From our nice chaps at neogaf.

The ablitity to play games.(sarcasm)

I think it could be quite simple on how to fix this.   Start including the firmware updates on all game discs and requiring them to be installed in order to play the game.  It would require Sony to probably give back Linux but that would be a small price to pay to get this much more dangerous hack out of use.  Cause that hardware hack is far more complicated and was never finished compared to if this is legit and working. 

Yea, you'd think something like this would be fairly simple to patch via firmware, but the makers claim that their device overrides firmware security and will allow you to play online without problems (which I doubt).  I'm not too sure exactly how it works, but from what I've read it seems that the dongle transmits an electronic signal that tells the PS3 to go into something like a developer mode where the security features are disabled.

I dunno, its fairly useless to me as it looks like it takes forever to backup a game, so not really worth the time since I have no intention of pirating shit =/.

ha, so its not a big lose, since it haz no gaemz anyways.

I think this is a good thing for everyone. I doubt anyone will download MGS4, since its over 40 gigs. This will hopefully teach developers that the more content they put on the PS3 blu ray discs, the less it will get pirated. Seriously more then halfway through this generation and theres ever rarely a game that uses half of the blu rays disc space.

you can rent a game from the videostore

This will be interesting to see how things unfold.

A review of the dongle in spanish. So far the more info that comes out on this the more legit it seems. For example the files on the USB drive have been built with a PS3 SDK.

http://www.elotrolado.net/hilo_review-ps-jailbreak_1473364