A PlayStation 3 ModChip is confirmed and soon out for the Sony PlayStation 3 gaming console. Currently it is a USB dongle loaded with software to allow you to boot the console, insert a game, back it up to the PS3, and then let you load & play the game from the console.
PlayStation 3 Finally Hacked! Backups playable!
More info here: http://psx-scene.com/forums/showthread.php?t=64935