We hinted on this in previous PS3 Dev postings, but now it deserves a post of its own. We have successfully obtained the decrypted ELF file from an encrypted SELF that we ran, then dumped using the PlayStation 3.
As you can see in the image below, there is an ELF file, totally decrypted from the retail game disc! This removes BOTH the disc layer of encryption on the EBOOT.BIN, as well as the file layer of encryption.
In other recent PS3 Dev news, we have managed to successfully downgrade a PlayStation 3 without utilizing a previous flash dump backup of the console. Normally to downgrade your PS3 you first need a copy of the original firmware (made with Infectus). However our method does not need any flash backup, as it uses the PS3's updates to downgrade for us.
Keep in mind it's still a work in progress, but expect additional details on this project as they become available. Look for more information coming this week!