PS3 Jailbreak

# Hi everyone,
I was just wondering ( and even after a long google search ) , what is really happening in PS3 jailbreak or modding. Is jailbreaking and modding the same and how do we do that ?
And what is this firmware version in PS3 and custom firmware ? How does custom firmware affect the games we are going to play ?
And why it isn’t possible to play latest games in a jailbroken PS3 ?
And even if we have a PS3 untouched or not jailbroken, why can’t we still play latest games available without the latest firmware version? What is the reason?
Thanks a lot in advance for helping me put here ….
Answer #1
Ask, demand, search, read, learn… all here…
http://www.ps3jailbreaking.com/index.php
http://www.ps3breakstore.com/
Answer #2
Usually its with older Slims pre 3000 series that don’t ship with firmware 3.61.
For original fat units, it has to have a NOR flash.
Using something like a E3 flasher, you can read the NOR directly and make a backup of it.
And flash it to a custom 3.55 firmware after that.
Its process is fairly long.
Answer #3