The PlayStation 3 is considered one of the most secure consoles for gaming, why so? NO PIRACY! The XBOX 360 was given a custom firmware within a couple of days of its release and the Wii was given the same treatment but the PlayStation 3 is still the pride of legit gamers, you can NOT enjoy a game on the PS3 without owning the original game or buying it off PlayStation Network. But where hackers like GeoHot have finally given up hope this guy who appeared on YouTube claims that his mod chip is capable of running back up games.
In the end I consider it a futile update, 1 firmware update from Sony will render these usb sticks useless and I for one like to support the hardwork of game makers by buying a game I like, I do it for the PC and I am doing it for the PS3 right now sure it costs A LOT more then buying an XBOX360 and buying pirated disks but there are lots of upsides of buying legit too such as never having a fear of being banned for playing online (unless your a bad boy and you hack) and no hassle of custom firmware and this and that.
Even if this thing DOES become official I don’t think it will work long all the comments I have read so far agree with me, if hacking the PS3 was this easy it would have been done years ago.