Now, the title may sounds corny but the NTFS support is only for copying files, nothing more nothing less as deank stated. So, for those hoping a PS3 game launch on a NTFS HDD, forget it and stick to your 4GB limit file FAT32 HDD.
Originally posted by another user
NTFS support for external USB HDD (START+/\ to switch to NTFS driver)
USB.CFG configuration file edit required: 0xVNI

0xPRI

V (vendor ID, product ID, V=number of volumes)
Only copy from NTFS is supported – nothing more, nothing less
Folder/File copy in FileManager from NTFS volumes
Altered display modes 1, 2, 3 and 4
Fixed 99% progress bar freeze and “not enough space” errors in rare cases
Added support for 3.56 spoof