All the idiots going around calling that Team PSP patch a Virus or a Trojan are morons.
Yes, you too Yahoo News.
A virus is a piece of code that replicates itself and tries to infect other systems.
A trojan is a piece of code that is designed install other software to let others access a system via some kind of back-door or rootkit.
This patch is just a piece of malicious code. That is all.
It would be like, you go to a website, download something called "Virus.exe" and run it on your PC. It then procedes to reformat your disk, or screw with your partition table leaving your system unusable.
If you're stupid enough to run it, then you deserve what you got. Don't trust everything you download.
This is not a virus. Just sensationalist bullcrap.