From Xboxic:

"Word on the street is that some smart people of this board combined their forces, formed an underground team and are very, VERY close to getting the first 360 backup booting..."

"Firmware. I doubt you'll see some kind of OTHER hack soon, that lets you boot unsigned code for example. MS did a very good job on the 360 itself this time. However, they made a big mistake by forgetting about the firmware. They even didn't remove the debug routines from the FW, quite amazing ... The 360 has a little bit more advanced protection in its FW than the original xbox, but still, they did some stupid things (like forgetting about the debug routines, that were very helpful to us, hehe, and most importantly: not signing the firmware). I'm betting they'll develop the MPU in the drive from scratch for their next gen consoles and sign the code in the FW"

It seems like this is the first major weakness in the Xbox 360's thus far very solid armor. While this isn't anything special in itself, it really is the first step in the hacking of the 360 console.

It brings back memories of a couple months back when all those rumors of the 360 mod chip being just days away....I guess it turned out that those were just rumors.

Anyway, I'm always game for a little 360 hacking talk- but there really isn't much to say about this besides..."nice."