Problems with the new custom firmware for the PlayStation 3 render many consoles completely useless.
Unless you're in the market for a $300 paperweight, stay away from Custom Firmware v3.55.
Custom firmware, which allows users to run programs not sanctioned by Sony like homebrewed or pirated games, first showed up earlier this year after hackers released the root keys that allowed access to the heart of the PS3's programming. Since then, the firmware has been updated on a fairly regular basis.
Soon after hacker Waninkoko released it, it was reported that the newest firmware was causing many consoles to become unresponsive blocks of wire and plastic.
The hacker's site provided an update, saying "Do NOT install in Slim consoles! Looks like users are reporting bricking issues. That's weird as the CFW was tested on both models. Well... I don't know if those problems are real or just jokes. As I said, some testers tried this and worked in both models."
Over the course of the day, Waninkoko narrowed the range of consoles that would brick with the new CFW installed. Starting as a broad notion of "some fat models, some slim" the suspects became "Consoles (older models) with 256MB NAND."
PS3-hacks.com has a full list of PS3 models that will brick with the CFW available, with both Slim and Fat PS3s listed. If you must install Custom Firmware 3.55 today, check the list and make sure your model isn't listed.