Will PS3 ever be modded (chipped)?

I'm sure people are already trying it, but I doubt it will be useful until much later. A bluray disc is expensive enough, but an actual burner would be way too much for a regular consumer to get, if its even possible. I suppose a hard drive exploit might become available (like HD Advance), but bluray games can hold a lot of data, so a harddrive capapble of holding multiple games would be expensive as well. Maybe when the PS4 comes out, we'll all have bluray burners on our computers, until then however, I'd stick to buying the games. If everyone starts stealing PS3 games the entire console will die and no one will make any games for it.