engadet is reporting that a "critical vulnerability in Microsoft's Xbox 360 that allows privilege escalation into hypervisor mode." has been discovered. This may be the first step towards getting homebrews running on the 360. Of course it appears MS was aware of the issue and has already pushed an update.
The 360 has been relatively hack free well over a year now.
Nope, not hack free. Google "xbox 360 modchip".
none of the mod chips lets you run unsigned code. they are all workaround of the dvd drive flash exploit that allow users to play signed code off of dvd rom disks.
all the mod chip does is do a special dvd drive bios on the fly. however i believe the new 360s have a different dvd drive.