QUOTE(The Prankster @ Jun 2 2007, 01:41 PM)

You couldn't 'keylog' it either, keylogging is programs that run on computers to record the keystrokes on a computer. There is no point and time where the xbox 360 would have a keylogger lol. The point is, the xbox 360 is undoubtedly NOT holstering the M$ private key. I have no evidence to actually back that up, but it wouldn't make sense to store the key on every console. Having an algorithm to CHECK if it was signed, makes much more sense, and I'm betting that's the case. And the algorithm is probably encrypted in NAND or something, who knows.
I think he was referencing the syscall for saving to the 'keyvault' in the hypervisor. An algorithm to check a key would seem a good solution, except for two flaws:
1) A badly written algorithm which could have multiple results read ok, which would mean that if you can find another key similar enough, you can swap them. Not much a concern there, but still a concern nontheless if you're worried about security and the public.
2) An algorithm that can be solved. If we know the complete algorithm, why can't one fill in the blank? It's like I may not know what a peanut butter and jelly sandwich is, but if I see peanut butter + jelly + bread = ___, there's a chance I can come up with "peanut butter & jelly sandwich". Of course, that analogy isn't to be taken literally, but just an illustration.
I'm almost 100% positive that the key would be kept onboard (albiet with a high level of encryption), and simply compared when needed (hence the hypervisor's syscall to the 'keyvault').