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OK, a few people are talking about the 'new' PSJailbreak due to release on 20th October, so I'm just gonna clear few things up...
1) It says support for 'new' firmwares. This could be 'new' 'old' firmwares (3.01/3.15/3.21) for example.
2) The JB exploited a sort of '

eveloper Mode' in the PS3, 3.42 removed it, which is why a 3.42+ JB is so unlikely. A NEW exploit must be discovered. It's still possible, they'll just need to explore 3.50 in the same way they explored 3.41.
3) 3.50 also removed support for many USB devices, this may make the JB devices not work. I can confirm that if I attempt to run PSFreedom on my iPod Touch, the iPod Touch still picks the the PS3. It just freezes on device 1... :p
All we can do is wait and see. 20th October is a Wednesday, my bet is that by the weekend, this new JB device (if it does indeed work with 3.50) will be ported to PSGroove/PSFreedom. So don't gear up to spend ridiculous amounts of cash on the new PSJailbreak.
Then ofcourse, as Shiver said in one thread, it could all be a marketing strategy...