PS3 Mod Chip?

i was met with shock today when i was browsing the net and came across an apparent PS3 modchip and assuming this was a hoax I immediately dug deeper to investigate and I stumbled across something amazing

I am sure most of you are not new to the world of mod-chips and game consoles but for me this was a first,a mod-chip that can work on any console.Believe it!The chip is the
Infectus2.
InFeCtuS is the first versatile microchip ever brought out in the market, created to work with many different consoles. InFeCtuS will give you access to so many features that would be impossible to describe them all
Is the introductory paragraph on the home-page of the infectus website.
I browsed through the site that had claimed success with their chip on the Xbox360 and the Wii but had finished running beta tests on the PS3 and were ready to release it commercially in the next 4 weeks.
Here are a few features the chip offers:

The first work to be done is to allow our users to flash directly the PS3 BIOS by USB. So no more problem with firmware, you can install everything you want, when you want. All the complications due to firmware versions that cannot be downgraded will not bother you anymore.
This solution will be released in the next 4 weeks!
Another new feature that we want to add is a REAL TIME patching of the firmware part that you want to be emulated from the chip.

Here is a picture of the chip