Sweet.... although like the article and Wrathamon say, Nintendo will surely be looking into how they can block it via a mandatory system upgrade. I hope they don't though.
I've got the GCN Freeloader cause I've got some US Games (legit, not backups)... Nintendo blocked it from working which made me consider using a hardware workaround. I wasn't really interested in playing pirated games cause they're bad, mmmkay, but it's almost as if Nintendo are forcing me to consider using a modchip - and if it's chipped then the temptation is there to play those backups. Surely Nintendo realise this? They don't really lose out by allowing me to play my imported games via a Freeloader, but they could very well lose out if I go down the modchip route.