Hackers claim discovery of PS3 'private key,' enabling unauthorized code [Update]

During the ongoing Chaos Communication Conference 27C3, the hackers responsible for the Wii's Homebrew Channel, calling themselves fail0verflow, gave a presentation in which they claimed to have figured out the "private key" used by Sony to authorize code to run on retail PS3 systems. This means, as a PSX-Scene forum post puts it, giving a hacker "full control of the PS3 system," without the use