56w ago - Today we received word from Dutch site
OmbouWnederland.nl (
ConsoleWinkel) of a rumor that a Sony PS3 Blu-ray drive emulation PCB is currently in development which will allow users to unlock their PlayStation 3 console without the use of Custom Firmware or dongles.
Reportedly they have been in contact with
ChinaDistrib.com who stated a team (possibly the Wasabi or Drivekey team) is working on the PS3 Blu-ray drive emulation PCB that is slated for release later this year.
They have also speculated via e-mail that the project has been kept under tight wraps due to Sony being unable to stop this new PS3 hack via Firmware updates, meaning once it becomes public Sony's legal team will be on the warpath in full force.
Below are some concept pictures (not actual finished product pictures) from their site and the details, roughly translated as follows:
"
PlayStation 3 drive emulation
No hacking, no flashing, no modding. Emulation is the future. A team is currently working on a new hack for the PlayStation 3.
The Blu-ray player, Sony's PCB has been cracked and costs can thus be gekloont. The team probably Wasabi or Wiikey team is currently working on this for the board to connect to an external HDD.
This can be downloaded games played as Wasabi360 and Xkey for the XBox 360.
A major retailer in China has also indicated that this year is released."
Finally, China Distribution has replied to an e-mail from
hitman43 (via modcontrol.com/Board/187984-post1.html) as follows:
"Zitat: Hi,
i didn't know anything about this product, i don't know why people ARE thinking we are behind this device,
regards
ChinaDistribution"
It is unknown whether the person responding is unaware of the rumored PS3 Blu-ray drive emulation PCB in development, or if they are simply attempting to keep things quiet and avoid any legal hassles from Sony... only time will tell for sure.
hope to find something usefull here .. hello 
...
Pretty sure it's a device that will intercept bluray disc drive operations from the PS3 to allow you run the games off a hdd instead. Seems it will emulate the bd drive and essentially "trick" the ps3 into thinking it's a legit disc being played. That's what I've gathered from it anyways.
Seems this thing could certainly affect the integrity of the PSN. Likely be a slew of online cheating options since the game files will be open to manipulation. Curious how seriously Sony may take this thing, if it indeed comes to be someday.
Guessing there will be protection in place to stop Sony from it, but, likely they will be able to detect it this way too. Likely too early to tell though. Nobody really knows much about this thing from what I've read. I would imagine Sony has access to flash the drives under normal conditions in the PS3 as does MS in the 360. Curious to see what comes of this myself though.
Thanks