How To Play Retail GAMES On CFW PS3:
1) First of all Download a PS3 game from internet.
2) You will find folder structure like this:
\BXXXXXXXX
\PS3_GAME
\PS3_UPDATE(Delete the PS3_UPDATE folder)
3) Make a folder named GAMES in fat32 drive.
4) Copy the BXXXXXXXX folder to GAMES folder.
5) Start PS3.
6) Connect Fat32 HDD.
7) Start MultiMan (if it is already installed).
8) Go under GAMES section, try finding the game you downloaded.
9) Press x on the game.
10) It will take you back to PS3's XMB.
11) Press x on app_home option.
12) It will load your game.
13) ENJOY.
Credit goes to: PS3GAMER20111
I did a loooong time ago and worked perfectly fine. I am on REBUG 4.46.. No different from yours.