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Is it possible for me to have two ps3 hard drives one with the jailbreak and multiman that i could potentially save all of my games to. Then another hard drive that i can use to play online like a regular ps3?
I'm not 110% sure either, but like AlabamaHit said, I'm pretty sure it'll ask you to update when you switch to anything other that the current version firmware...
Unless your only planning on using the back-ups OFFLINE, then I don't really see an issue.
I'm also guessing you can always just switch to the DNS by pass when you're on the lower firmware?