I've been interested in console hacking since the Wii homebrew days but I don't have any knowledge on this field and don't know where to start. And it takes time to know what's currently going on on the scene because of how closed they are.
Start with reading exploitation guides such as "Smash the Stack for Fun and Profit" and other writeups describing exploitation on Windows. Research the metasploit framework and set up a testing environment with some virtual machines. Start reading guides on C and Assembly. Follow some basic metasploit guides and challenges. Participate in a CTF (which is a sport for hackers). Once you have this background you start targeting console specific architecture (watch f0f's presentation, analyse Marionumber1s source code for the browser exploit etc.). Then all you need to do is get on IRC and ask... Marionumber1 and NeKit (very friendly guys) were happy to share and discuss details with me because I understand the terminology and system architecture.