So, where will i start....
Basically, a bunch of hackers have found a way around the PS3's firmware protection and have created a mod-chip so you can play pirate games. This mod-chip is a USB device which doesn't need installing, which is great because you can go back to playing normal games online once you've taken it out!
What does it do?
It allows you to run ripped games which are on your hard-drive by using a disc as boot device. I'm not very good at explaining this so just watch it in action.
This is good if you have a large HDD in your PS3 obviously, because you can make the most of it.
Oh and also apparently it blocks Firmware updates whilst still being able to go Online, so you wouldn't have to worry about it not working one day when turning on your system!
I normally wouldn't consider going pirate, but this is pretty appetising don't you think?
Well it was until i saw the price tag of it...