From their site, roughly translated: We were waiting for new online game about developments on custom firmware (see kmeaw, geohot and others)
When one of the brightest minds of our team has produced what we call might, the fastest possible access for the PSN.
The firmware is based on Kmeaw's custom firmware, which were added to 2 small patches which allow access to the PSN!
Access is fast, no PC is needed to serve as a "bridge" and then programs like FckPsn or charles, skipping the check of the model (debug, retail, reftool, etc..) And setting of the PS3 fw at 3.56.. (Not in the XMB)
Here is the link of the guide: http://www.ps3ita.com/forum/viewtopic.php?t=3819
Of course the risk is still high and BAN of Being a CFW, PS3ITA assumes no responsibility for any brick during installation.
Stay tuned for more PS3 Hacks and PS3 CFW news, follow us on Twitter and be sure to drop by the PS3 Hacks and PS3 Custom Firmware Forums for the latest PlayStation 3 scene updates and homebrew releases!
As i said in the above post. I attempted to access the recovery menu, and instead of jumping to it, it instantly says "Your PS3 turned off without completing its update, Continueing the update" and just continues to go for it.
And, I wanted to try the HDD swap seeing as the ONLY time it has not tried to continue the CFW install is when I had the HDD out of the console. It would sit at a black screen for a few moments, Then loads up the startup screen of the PS3 then says "Hard drive partition not found".
You ARE talking about the recovery menu via holding down the PS power button and beep twice, into the menu with 6 options.