(adsbygoogle = window.adsbygoogle || []).push({}); Well, I really want to start "modding" my PS3... In addition to this, I have no clue in what to do or even where to start... Link me to where ever

First you need a jailbreak to start with.

Care to elaborate on how i would do this/buy this?

first your going to jailbreak i got mine from r4king.com but there are many sites that sell dongles or if you have a iphone or ipod touch 1g you can use that once you are jail broken and all ready to go you want to get something called ftp on a usb plug it in install it use this to transfer patches you can also install something called snes x9 to play Nintendo game on your ps3 recommended if you want to back up your games to your hard drive get something called back up manager to be able to do any of these things you need to be on 3.41 or you can be on 3.50 if you get a ps downgrade dongle next time use the search tab

So after i "buy" a jailbroken ps3, what version would it be on? then i just download "ftp" on a usb and just install that on the ps3? Then how do i get challenge lobbies and such?

I have no idea of telling but the sooner you get it the better chance ou have of getter a lower version also you dont really download ftp from your ps3 you install it from your usb make sure its in the root of your usb for this to work

Will the version be at least lower than 3.50?

dude how am i supposed to know its random they might be a high version they might not be but i thiink its gonna be lower than 3.50 or at least 3.50 but even if its not the version you want you can always return it and get your money back.....