Hello hypervisor, I'm geohot (PS3 hacked by the guy who hacked the iPhone)
geohotps3.blogspot.com
geohotps3.blogspot.com
If you have a look at geohots's blog, he talks about crude hardware glitching, buffer overflows or programming internal PPC registers via the SPI interface this CPU apparently has. We might now speculate that he used some or all those things to affect operation of the running hypervisor. Being able to grasp how these things interact is much more important than being a good C-coder.
If you look around blogs or watch videos from conferences, you can find many people that are fluent in specific areas of a particular technology, but I think there are much fewer that can jump between a diverse set of abstractions or interfaces.
Being able to do this is something I'd really love to be.
No, just kidding, most will play cracked games.
I haven't bought one mostly because of the restrictions on linux ports.
While the PS3 supports linux, it is run under a hypervisor which restricts its access to the RSX 'Reality Synthesizer,' the graphics processing unit (GPU). The Wikipedia entry also notes that "support for the "Other OS" install option was removed by Sony in the PS3 Slim."
References:
I just remembered that they restricted access to the Store (and possibly the whole Network). That was solved by a change in the version string, if I recall correctly.