PS3-Cfw.com just published an article detailing the benefits and disadvatages of trying to turn your PS3 in to a debug unit so you can run homebrew applications. It sounds like a risky procedure and many people with feel the risks outweigh the benefits but im going to go ahead and try it anyway. Check back in a few days and I will post up how easy I personally think it is to do. It may be a case of it being easier than it reads to convert your PS3 to a debug unit but then again I mat be on the road to a bricked console.
Check back after the weekend and I will hopefully have updated with how it all went and if it is really a viable free solution for a PS3 Jailbreak.