Mathieu Hervais http://twitter.com/Mathieulh announced this afternoon the release of an open source version of the PS jailbreak under the name psgroove.
According to French hacker Mathieh Hervais, his hacking group have successfully cloned the hyped PS jailbreak. No code or proof has been released yet but if the group decide to make it public it will mean the PS Jailbreak could easily be home made simply by programming the code to an AVR development board such as a Teensy or AT90USBKEY.