"I can confirm that the hack that was announced is fully working. This is a quick test setup but it clearly shows the console directly boots into Xell. Doesn't look too spectacular, but people who know what this means will know it is! I used a Cygnos v2 sample i got (thanks!) and flashed the hack on the cygnos NAND. The original NAND was untouched. I can now boot either the hack or my NXE dash :-)
I opened a virgin box for that. No DVD hack, nothing. Just flashed it onto that Cygnos NAND and bingo...

my congratulations to all involved!"

This could be one step closer to homebrew. You can watch the video here.