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k my ps3 now is on 3.50, and my jb usb just came in the post.
i installed the usb upgrader, and know its got the downgrader on it.
i take the cd out of my ps3, and any other usb's, and switch it off from the mains on the back.
then i switch it on, press on and hit the eject button. it goes well and takes the ps3 into service/factory mode... but what do i do from there? i go to game, and see no downgrader or shit like that. the usb i got is matrixps3.com