Time to burst those tiny bubbles of hope...or as Cartman says:
"Ah yes...your tears...they taste so suh-weet, yes."
Fanjita has expanded on this. He says there have been three "types" of exploits found:
user-mode only
VSH (user-mode with some kernel access to flash0)
kernel-mode

The 2.0 TIF exploit uses VSH whereas the GTA savegame "hack" is strictly user-mode only, no access to flash at all.
That means no downgrading from 2.01 or higher and no ISO loaders via the GTA savegame "hack".