Bad news for Sony: the Playstation 3 has been hacked, and hacked to the core. A small group of german hackers named fail0verflow have figured out how to open up the console to play pretty much anything, including copied games.
First and foremost, this will allow unscrupulous gamers to burn copies of games to Blu-ray and not have to buy them. But it will also open the door to amateur games made by enthusiasts, able to make games for the system without passing through any hoops. Of course, you'll need to be willing to hack your console to get access to such things, but to a certain group of people, that's all part of the fun.
Via Sony Insider