I'd like to point something out to you guys. I see at least a few of you expressing excitement for the inevitable Homebrew Channel type thing simply because an exploit was allegedly discovered.
An exploit does not immediately mean you'll have system level access to write to the NAND. An exploit such as this is only a means to launch unsigned code. Smash Stack on the Wii does not install HBC. It launches homebrew, which is typically the bundles HackMii installer, though the boot.elf of that can be replaced with any other boot.dol renamed to boot.elf, and most of the time, it will run. HackMii Installer installs the HBC, which is a piece of software on its own. Smash Stack, the exploit, just enables that software to be run.
What I'm getting at is provided this exploit is in fact very real and usable, it doesn't mean we'll have a Homebrew Channel sort of thing, immediately if at all. If the exploit gets released tomorrow, we're not going to be loading 3DS roms off of our SD cards by Wednesday night. We might never. What this means is we have a way to start launching unsigned code. We can launch an emulator, we could launch a media player, a program might even be able to be developed to be a homebrew loader once the exploit is run, but do expect it to take a while until the 3DS has its own installed Homebrew Channel that can be run without an exploit.