http://www.gadgetvenue.com/sony-ps3-...ully-01235158/
They're a long way off from a mod chip, but from a technical standpoint, it's pretty impressive. The PS3 definitely was the strongest of the modern big 3. It still be interesting to see how this affects PS3 sales.
EDIT: I forgot to add, the blog belongs to Geohot, the guy who wrote blackra1n (the jailbreaking utility for the iPod/iPhone). Definitely a credible source.