Patch 1.03 fixed the glitch but you can still exploit it by deleting the game data utility for demons souls and patch it again when your done...if your wondering how to do it, go to ps3 xmb and go to the game aisle and the very top would be the game data utility. Now for the glitch, you need two characters for this...character A and character B
go to the nexus and...
suicide A, then retrieve his soul...
Load B, then suicide B, retrieve his soul...

Load A, suicide, this time DONT retrieve his soul...
Load B and retrieve A's soul
Load A and retrieve A's soul...

Load B, suicide, DONT retrieve his soul...
Load A and retrieve B's soul...
Load B and retrieve B's soul...

Load A, suicide, DONT retrieve his soul...
LOAD B and retrieve A's soul...
Load A and retrieve A's soul...

and on and on...until you have all you need
remember to delete patch 1.03, you can only
do this glitch offline, since being online
on psn causes the game to auto detect new patches
so you have to sign out and delete the patch
to play the game before any patches..
(patches the hyena, hehehe)