Hello!

I'm sorry to ask such a silly question, but one thing i'm good at is knowing when I should ask and when I should 'give it a go'

I have a PS3 Fat, CECHC03 (pal) and I'm looking to get stuff running on it. I have a few questions that I hope are not taken as stupid:

1. I haven't even turned it on for a few years, so I know the legit firmware is going to be old, is there a good reason to try jailbreaking it in its current (OLD) firmware, or update to latest (4.88) and then jailbreak?
2. Can anyone provide a link or explain what the entire ecosystem is? I know there is the firmware that jailbreaks, but does this just provide a 'shell' that things like 'multiman' run on? I realise this is a basic question but does anyone have link to a list of the software available and if possible, a breakdown of the things it does?

thank you guys/gals,