The group that was responsible for hacking the Wii U and the PS3, Fail0verflow, has given a demonstration at the CCC that shows Linux running on the PS4 (Penguins on Aeolia). Much like the previous Xbox 360 King Kong exploit demo, they did not show us how they were able to do it, just that it works.
During the demo, they launched the user guide which then started the Gentoo boot process. Once they are in the desktop environment, they play a slide show listing off a few of the things that they have working at the moment. So far they have gotten Bluetooth, WiFi, serial ports, the HDMI encoder, and 1Gbs Ethernet to function properly. They are also working on getting 3D acceleration, HDMI audio, and USB functionality to work. However, there are still some things that need to be tested, such as Blue-Ray.
They also mention that there are "kernel patches coming soon" and "custom bootstrap code," which could mean there will be some sort of release in the near future. They do, however, say "bring your own exploit," which likely means they don't plan on sharing all the steps needed to exploit the PS4. Although they did not confirm what console version they did this on, they did say that the PlayStation 4's security is rubbish. They then close the demo by surprising the audience with an application that was sitting on the desktop named "???", which turned out to be Pokemon.
You can view the presentation here.
So what are your thoughts on this? Are you exited to see what comes next? Personally I can't wait and hope to see the release soon.