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PlayStation 3 has given modders and hackers a run for their money. For nearly fours years hackers have tried to create a working mod that would bypass the PS3 software protection and run homebrew applications and backups. However, there has been no real breakthroughs, until now, if you believe what PS3News has to say.

According to the site, a product called PSJailBreak will allow owners of any version of PS3 to run backups of PS3 games as well as homebrew applications. The $170 mod is a piece of software stored in a USB drive. By inserting the thumb drive to your PS3 you'll be able to install and run the launcher application in seconds without permanently modifying the console or its software.

The PSJailBreak application also includes a backup tool which allows users to backup their game discs to the PS3 hard drive. Movies whether DVD or Blu-ray, or previous generation PlayStation games aren't supported by the tool. The backup manager can also be downloaded for free.

At OzModChips.com the Stock Status says they'll be shipping preorders by the end of the month.

There are couple of YouTube videos (below) and Twitter updates that say it is working. Hopefully we can confirm this in the coming days. However, for now you should probably take it with a grain of salt.

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