I'm kinda in this same boat, I haven't really looked into modding my ps3, but only because the door has been wide open up until now and had all the time in the world to ignore it.
I am getting Portal 2 for PS3 tomorrow and need to link it to my steam account, but i need to update my 3.10 to current or I can't do that. I need an opinion on what i should do in the long term, should I update my ps3 or keep it at 3.10? Is there any safe guards I can take before I update? I honestly know nothing about ps3 brew/hacking. If all I'm missing out on is pirating I don't really care, I use my PC for every thing any ways.
I would borrow a ps3 if I had that option.
Please let me know asap, I really want to play portal 2.
Thanks.