The PS3Key feature list has been announced! Check out http://www.ps3key.com for more information!
PS3Key Feature List:
* USB Plug and Play solution that installs in seconds without any need to open up the PS3.
* Does not break your warranty seal.
* Compatible with all PS3 models, both Fat and Slim.
* Supports all regions: USA, JAP, PAL and KOREA.
* USB device fully updatable by PC.
* Disables forced software updates and will never brick your console.
* Supports most games and homebrew applications.
* Easy-to-use software for backing up, managing, and playing games from external USB Hard Drive.
* Playing games from HDD is much more enjoyable, benefiting from greatly enhanced seek and loading times.
* Supports installing homebrew application on PS3 and external USB media.
* Optionally PS3Key can be supplied with an "open" firmware which does not support backup loading. Users would then have to download a firmware update for PS3Key to get full functionality.
Homebrew on the PS3, what a killer of a week for the PS3 Scene.