After a LOT of deliberation I went ahead and upgraded my 3.41 PS3 Slim the the new Waninkoko Custom Firware 3.55 yesterday

DO NOT ATTEMPT THIS IF YOU HAVE A "PHAT" (Old Style) PS3 as it will brick the console!

I am happy to report that the updating went without a hitch (first update to OFW 3.55 via PSN, then go into PS3 system mode and install the Waninkoko CFW 3.55)

Next I installed the Rogero Backup manager for CFW 3.55 and so far can play all the 3.55 games I could not play easily with my 3.41 console (for example Mass Effect 2 and Little Big Planet 2 - both original games I bought from MBK yesterday)

Google this for more info but it worked like I charm for me but don't blame me if you end up bricking your PS3

But will it work with online games such as DC Universe online. Or are they blocked.

Is it possible you will be blocked from PSN in the coming days/weeks?

But will it work with online games such as DC Universe online. Or are they blocked.

Is it possible you will be blocked from PSN in the coming days/weeks?

Right now I understand they cannot detect the CFW but I am not taking that risk so am staying offline with my CFW PS3

I will be using my old "Phat" PS3 for online as I'm sure Sony (like MS) will figure out a way to detect the CFW and wield the banhammer

That's why I also have two 360's