http://gbatemp.net/threads/answers-to-the-most-asked-questions-on-ps3-jail-breaking.369241/#Z5
Yep.
Also it got covered somewhere else but when you do decide to update higher.
Remove game discs, they contain OFW updates on them.
Stick USB is rightmost port (closest to BD Drive).
Also turn off wifi in case you accidently goof.
"If you somehow have gotten PS3 CFW, NEVER UPDATE!!! TURN OFF AUTOMATIC UPDATING."
kinda obvious tbh
As for "Don't go on PSN too much with CFW. You'll eventually get banned off the Network."
there is a homebrew called PSNPatch that temporarily disables your CFW and this mitigates most of the risk of PSN bans but it's more like 90% safe.
Don't go on highly populated servers like CoD and GTA, that can actually turn into a ban.
If you want to play games online, mount game first with Multiman then disable CFW via PSN Patch. This way the game is still on the BD Drive and you can actually still play it.
For "Don't touch any of the other system folders in Multiman's File Manager unless you have to. If you're just playing backups File Path HDD0:// should be all you actually need to touch."
It's more like you might do an accidental brick of your PS3 if you delete the wrong things.
HDD is, in practice, the only thing you really need to touch.
Only time I had to touch stuff was setting up ReACTPSN but I followed instructions that were safe.
"Don't use homebrew like Multiman and others while signed on the PSN. Sign in after mounting games and other tasks"
This got solved by PSNPatch, the guide is old old. You do your shit first then disable your CFW.