The jailbreaking wars seemingly never end, and it’s not about to either as PS Jailbreak have just announced downgrade support for PS3 firmware versions 3.42 and 3.50, allowing you to play PlayStation 3 games specifically for previous versions.
Let me just reiterate, this release will not allow you to play games that require the 3.42 or 3.50 firmware, but it will allow you to downgrade from those versions to allow you to play games that were released prior.
The latest release (3.50) was intended to put the PS Jailbreak, and similar services to rest. Medal of Honor forcibly required you to install it, and it was apparently also one of the many reasons for the delay to Gran Turismo 5, whether that is truesay or not we don’t know.
Although 3.50 has not been completely hacked as of yet, i’m guessing that it would be only a matter of time before Sony re-issue another firmware update to stop this downgrade support from happening. Either that, or someone else will find a way through.
Will you downgrade to play all of your older games?
You can find more information via PS Jailbreak.