Over the past few weeks, mainman has been working on a tool, with the assistance of our other PS3 Devs. This tool creates user-readable files from the PS3 flash dumps.
PS3's have two flashes, the firmware is spanned across both ot them. On boot they are interleaved and byte swapped. This tool recreates the process which interleaves and byte swaps the flashes.
This tool then creates a folder named PS3Nand-XXX.XXXX, where XXX.XXXX is the contents of "sdk_version", which is a file that stores the firmware revision of the PS3.