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If you have a PSJailbreak, you are aloud to make put copies of games onto the hdd or something like that from what I understand. Which allows you to edit a games files if there is no encryption, and I doubt there is encryption. Couldn't we edit the patch_mp.ff of CoD4 to host challenge lobbies? Or nonetheless import PC skins by opening the .iwd files and putting custom skins in? Don't flame me, I don't know much about ps3 modding or anything lol.
Hmm... Well the you can't decrypt the ps3 harddrive since the patch (2.??, I believe). So unless a piece of homebrew code comes along that lets you do edit the internal harddrive...?
I think the main route to modded lobbies to make our own patch which begins with decrypting and properly editing default_mp.self and EBOOT.BIN...