Here is what he had to say about it:
Quote (@Dean K via PS3Crunch Forums):
I just woke up and read some posts about some chinese sh*tty dongle for 4.21... Just to make it clear - the mM update has nothing to do with it and doesn't need a dongle if used with 4.21cfw. It is a pure speculation I guess, because there are a lot of people around who won't allow another dongle to surface anyway. I don't believe that their dongle (which I doubt it exists at all) will see the light of any day!
Here are the known facts about the firmware so far:
- This CFW with be DRM-INFECTED and you will need to purchase a useless dongle pricing from $50 to $100. (I don't see it lasting very long as did the True Blue)
- It is being developed by Chinese (Mainly a developer by the name of "The First Emperor") and their changes are clear of what they have working
- PSN is a NO GO. They have noted that they receive error 80029514 and error 80710A06 when using FCKPSN
- Blu Ray Playback Via External, Internal and BD Mirror seem up and working using Hermes Payload
- DLCs and Games appear to be running properly.
- It was noted that PS3 Homebrew is working but must have been resigned with 4.21 Keys? (Looks Like Open Manager and Multiman appear to be working in the video below)
- ReACTPSN is not working properly
- The PSVita Data can be managed
Other than that the rest of the information I have found only tells about their story.
Normally we do not post such nonsense but this is one story I couldn't pass up and for me it does seem promising. The future is near for PS3 Custom Firmware and lets hope that they are not just bullshitting around.
Check out the video below and let us know what you think in the comments below.
Are they just taking the PS3 Scene for another useless ride or Do you think that their development is real?
We will keep you updated as soon as this story develops.
All Information Listed above can be found at bbs.duowan (Red Power CFW)