http://s200.photobucket.com/albums/aa138/ejsid/infectus%20ps...
The keys are hard-coded in hardware and the content in question lives on a TSOP NAND device on the motherboard. No matter what Sony does, they can't prevent you from flashing your own code, signed with the old keys, to that onboard NAND. Whether you de-solder it and socket it, or use some other sort of hardware device, Sony is screwed for old hardware.