"You remember that the only thing holding us back from a downgrader for v3.03 was the lack of a user-mode exploit? Well, we don't like to be held back from anything, so we went back to basics and looked over some of the old exploits. And what do you know? We found one! We did a little digging into the old GTA exploit, and discovered that it hadn't been properly patched after all. We'll leave it as an exercise for the interested reader to figure out exactly how we got past the patch (and to give Sony a little while longer before the head-slapping "Doh!" moment :P)"