robinsod has released a decryption and extraction tool for the different parts of your Xbox 360's flash. Called the 360 Flash Dump Tool v0.1, this app will basically open up the data in your 360 for you to study, if you so choose.

This tool will allow you to decrypt and extract various parts of a XBox360 flash dump. The flash is divided into 2 major parts:

1. The Cx sections (CB,CD,CE & 0,1 or 2 CF & CG sections).
   CB, CPU bootup
   CD, unpacker for CE
   CE, contains the HV and Kernel in a .cab archive
   CF&CG are upgrade patches
   
   The tool will extract and decrypt sections CB, CD, CE. Additionally it will  extract the .cab file in section CE. This can be opened with winrar and the content (xboxkrnl.img) extracted. The first 256K of xboxkrnl.img is the Hypervisor, the remainder is the 2.0.1888 Kernel.
2. The Flash File System.

The tool expects a dump to contain the data (512 bytes) followed by the ECC (16 bytes). The ECC bytes are used to locate FS entries & identify the version.

The tool consists of the exe and CxKey.txt. CxKey.txt is delivered with 32 '0's and they should be replaced with the key obtained from the 1BL. After all the fuss about AACS keys recently it seems risky to put the key in the exe. The Cx sections extracted from a dump will only decrypt correctly if the correct hex digits are inserted in the CxKey.txt file.