While the file on their official downloads page (psjailbreak.com/downloads) is still named "manager.pkg" as the old version at the moment, it does display v1.1 on the screen and offers discless booting (press SQUARE when booting a game) and reportedly features improved PS3 game compatibility.
To quote: "Time will tell very shortly what is true and what is not, here is an earlier chat with them:
[16:21:07] Smeemi: Hi there!
[16:21:15] Smeemi: What are your promotions?
[16:25:16] Smeemi: and is the backup manager 1.1 coming out today?
[16:26:04] PS Jailbreak Sales: Yes
[16:26:11] Smeemi: What time?
[16:26:12] PS Jailbreak Sales: It will be on our site in 30
[16:26:15] Smeemi: 30 minutes?
[16:26:57] PS Jailbreak Sales: Yes
[16:26:59] Smeemi: Thanks
[16:27:09] PS Jailbreak Sales: Your welcome
[16:27:52] Smeemi: Any good features ?
[16:28:55] PS Jailbreak Sales: Compatibility with more game and ability to play with no game in disc drive
[16:29:09] PS Jailbreak Sales: We have been working more on updates fo 3.42 and 3.5
[16:29:15] Smeemi: Ok, great!
[16:29:16] PS Jailbreak Sales: That is more important for our dealers and users
[16:29:36] Smeemi: Compatibility wise.. do games like Modern Warfare 1/2 work now
[16:29:36] Smeemi: ?
[16:31:35] PS Jailbreak Sales: Yes
[16:31:53] Smeemi: Thanks"
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Maybe you should give the PSJailbreak team a break, without their work we wouldn't have any access to the PS3. There would be no cheap clones for you to bicker over, no advances in the payload or it's delivery and no progression on the backup loaders either.
If they do break through on the new firmwares the same haters will be happy to use the exploit. They may even have found a method for new firmware but are trying to build better copy protection.
Yes, $100 is a lot for the hardware and it would have been much cooler if they had gone open source but don't forget they got you where you are now.