a very interesting console. one of the most interesting features to me was its otherOS feature (removed FW 3.21), which allowed it to be turned into a linux "computer", the linux distribution was a modified version of yellow dog linux.
sony got sued for removing this feature as many users bought the ps3 for being able to run linux on it.
three models of this console were released, the PHAT model, the slim model and the super slim model.
the PHAT models and early slim models suffered from something called YLOD (yellow light of death). this was due to degeneration of the nec/tokin capacitors after long use, sony fixed this in later models by using tantalum capacitors.
the ps3 could run a wide variety of games and basically all popular titles that weren't xbox exclusive.
can be jailbroken with CFW (custom firmware) or HFW (hybrid firmware). there are many resources for ps3jailbreaking which include (but are not limited to)
ps3xploit.me
psx-place.com
r/ps3homebrew and other related subreddits
MrMario2011 channel.