Over the past few weeks, mainman has been working on a tool, with the assistance of our other PS3 Devs. This tool creates user-readable files from the PS3 flash dumps.
PS3's have two flashes, the firmware is spanned across both ot them. On boot they are interleaved and byte swapped. This tool recreates the process which interleaves and byte swaps the flashes.
This tool then creates a folder named PS3Nand-XXX.XXXX, where XXX.XXXX is the contents of "sdk_version", which is a file that stores the firmware revision of the PS3.
Upon completing that, the tool extracts every file from the flash, into said folder. Alas, all of the files (list below) are encrypted, but they are interesting nevertheless.
However if a PS3 was upgraded, it keeps a copy of the older flash as well. Say you are on 1.50, and upgrade to 1.60, it keeps 1.50 on there, and adds 1.60. The second firmware in this case, is not dumped (yet).
There are still a few bugs, it does not extract both firmware versions on a PS3, like the previous mentioned case. It also searches as a start for a fixed position, so it may not work with all dumps. We have had the most success with Infectus dumps, which you can get at Hardstore.
This tool is still a work in progress, if you have any useful information to add, post it in our PS3 Dev Forum. We are also looking for additional PS3 Flash dumps, if you have some, drop by on EFnet #PS3News.