[UPDATE - FAQ TAB has been updated in the article)
There has been alot of development going on around the PS3 since the discoveries of the PS3Xploit (webkit exploit) on 4.81 OFW, first we seen the IDPS dumper (4.81/2 OFW) released with some big news & hope to come along with it, like a Flash Writer (downgrader) for OFW, so if you have been reluctant to buy a Hardware Flasher such as the E3 Flasher and bust open your PS3, but have been wanting to get your PS3 FAT(PHAT) Console and your Downgradable PS3 SLIM Models (up to & including 25xx models with minimum installable version <= 3.56) on Custom Firmware, then here is your chance with a 100% SOFTWARE SOLUTION thanks to the work of PS3Xploit Team ( @bguerville, @esc0rtd3w & W) along with contributions from new team member @habib to help expedite this release. Essentially what this Software Solution does is write a patch to the CoreOS (on NOR/NAND Chip) and when the PS3 Console is then rebooted you can install a Custom Firmware directly, So downgrading back to 3.55 is not required in the process, rather "Direct OFW to CFW patching" is done to allow for Custom Firmware Installation. Since this exploit is executed from 4.82 OFW, you can only install to a 4.82 CFW, HOWEVER if you wish to use an earlier firmware such as REBUG 4.81 for example, once on 4.82 CFW you must TOGGLE QA using a toggle tool, which allows CFW user's to freely switch CFW version from past and present. Read more about this in the Frequently Asked Question (FAQ) and more info in the details provided:
UPDATE - View Public Warning
There has been alot of development going on around the PS3 since the discoveries of the PS3Xploit (webkit exploit) on 4.81 OFW, first we seen the IDPS dumper (4.81/2 OFW) released with some big news & hope to come along with it, like a Flash Writer (downgrader) for OFW, so if you have been reluctant to buy a Hardware Flasher such as the E3 Flasher and bust open your PS3, but have been wanting to get your PS3 FAT(PHAT) Console and your Downgradable PS3 SLIM Models (up to & including 25xx models with minimum installable version <= 3.56) on Custom Firmware, then here is your chance with a 100% SOFTWARE SOLUTION thanks to the work of PS3Xploit Team ( @bguerville, @esc0rtd3w & W) along with contributions from new team member @habib to help expedite this release. Essentially what this Software Solution does is write a patch to the CoreOS (on NOR/NAND Chip) and when the PS3 Console is then rebooted you can install a Custom Firmware directly, So downgrading back to 3.55 is not required in the process, rather "Direct OFW to CFW patching" is done to allow for Custom Firmware Installation. Since this exploit is executed from 4.82 OFW, you can only install to a 4.82 CFW, HOWEVER if you wish to use an earlier firmware such as REBUG 4.81 for example, once on 4.82 CFW you must TOGGLE QA using a toggle tool, which allows CFW user's to freely switch CFW version from past and present. Read more about this in the Frequently Asked Question (FAQ) and more info in the details provided:
UPDATE - View Public Warning
Flash Writer Compatible with these PS3 Models:
Supports FAT Models Axx/Bxx/Cxx/Exx/Gxx/Hxx/Jxx/Kxx/Lxx/Mxx/Pxx/Qxx
Supports SLIM Models 2xxx (minver 3.56 or lower ONLY, check with >>> minverchk.pup)