I haven't seen anything more on it yet, from what I have heard two different groups have a PS3 hardware drivemod installed already- one was supposed to launch last week but didn't (go figure) and the other is trying to get it down to 10 wires before they launch. One group claims to have some games working off BDR (and I think RW, which is handy to save testing costs) and the other gets games to boot but when they run they crash.
So I'd consider all this the very early phases and mainly just wait for more news to surface as things progress.
Oh, and out of curiousity.. how many would actually do the following?
1) Install a hardware mod in their new $400-600+ PS3
2) Buy a Blu-ray burner (few hundred bucks)
3) Pay for expensive Blu-ray blanks to burn PS3 games on
I guess if one already owned a Blu-ray burner + discs it may not be too bad, but definitely not as convenient as running games from a HDD etc