God of War Ascension on cfw 4.20 game saves

I am currently in the process of extracting this game and transferring it via ftp but I read that i need the patch for it to work on cfw 4.20 and that games saves don't work.

Does that mean i can't save my progress and i need to beat this game in 1 sitting like the old school nintendo/sega genesis days

or

does this mean i can't import other peoples saved games ?

If someone can clarify that be great.

Thanks