StreetskaterFU is at it again, this time he has managed to fully unpack & decrypted Home Beta 0.86. There are about 9000 unencrypted files, other devs now can take a look at those files which also include java binaries, shader files, lua scripts and more interesting in-game executables. These files can help us better understand PS3 games and the PS3 network structure.
So where are the "exploits"? PS3 games run still in a sandbox and don't have direct access to kernel modules and other high level access but since the introduction of in-game XMB there may be holes which devs can search for and use in-game exploits to break the wall. Those could be in a appearance of RSX attacks or some new holes in the in-game XMB structure.