http://gonintendo.com/viewstory.php?id=159250
http://www.defectivebydesign.org/
Nintendo would like to reassure any concerned consumers that under our European terms and conditions and in compliance with European requirements Nintendo does not have rights to user content, such as comments, messages, images, photos or movies, which are shared in private communications between users or simply stored on Nintendo 3DS.
European players. Feel free to try and hack the 3DS as much as you want.
In the links, it also mentions the bricking, not only privacy issues.
http://www.defectivebydesign.org/
Nintendo would like to reassure any concerned consumers that under our European terms and conditions and in compliance with European requirements Nintendo does not have rights to user content, such as comments, messages, images, photos or movies, which are shared in private communications between users or simply stored on Nintendo 3DS.
European players. Feel free to try and hack the 3DS as much as you want.
In the links, it also mentions the bricking, not only privacy issues.