Update #3: nikkelitous has now shared with us a PS3 SELF2ELF converter in the ongoing SCE File Format Forum thread. Nice job!

Update #2: hacked2123 has now shared a video of this method in action below, and the required PS3 XMB Back-Up Image file is also now available! Those interested can check out his full post HERE, and hacked2123 also let us know he is accepting donations for his continued PS3 development efforts at http://hacked2123.ps4news.com.

Update: More PS3 events today are as follows: naturesbane has updated his NPD header format (and compression notes) at PS3Dev.PS3News.com and nikkelitous has shared his SCE File Format findings along with an updated XLS SpreadSheet and Hex Workshop .hls file that allows users to create 'structures' in Hex Workshop detailing the data found from the header thus far. Oh, and be sure to grab the NPUA80093_113_release.self (the same file that gets replaced to provide the hack allowing Devs to put .selfs onto their PS3 systems- this time from $CEA's Prod Server before it was taken offline)!

Up until now, the only way to make PS3 back-ups was to use the PS3 Linux Method or PS3 SAK v1.00. Tonight, resident PS3Dev'er hacked2123 is planning to share with the world how to make PS3 disc back-ups via the PS3 XMB! To quote:
I am currently developing a barbaric method by which I have already been able to dump a small section of the Bluray games while in the XMB. I will create the necessary file to dump the entire disk tonight and post it here.

Requirements: (Only tested on firmware 1.11)
1. DVD or Bluray Burner
2. An IDE to SATA Adapter
3. An IDE Hard-Drive
4. My guide
In related news, those seeking news on the latest PS3 releases can now use www.PS3NFO.com to access the list at NFO.PS3News.com. If you haven't checked it out yet, it lists releases by Month, and you can view ALL of them by selecting "All Months" from the dropdown menu and clicking the List button. Finally, those who wish to assist us with the Firmware versions of each title can read how to HERE. <!-- TID:82392-->