Perhaps I'm missing something, but don't these vulnerabilities require root to exploit?
I mean, it's cool from a security research perspective, the PSP isn't just some random keyboard/HDD, but the severity seems overstated.
I'm saying that the inverse argument, that the vulnerabilities are "pedestrian" and not worth making noise about, is at least equally false.
Unfortunately, the day of the announcement, several people trafficked in opinions based on CTS-Labs white paper --- which any skilled reader knew immediately, just from the format, wasn't a technical explanation --- that these vulnerabilities were non-issues. If I see people repeating that notion, I'm going to point out: the equivalent vulnerability in the iPhone platform would be front-page news.