Unlike the previous hack by George "Geohot" Hotz, this one is as simple as it gets: buy the device, stick it in a USB drive, follow instructions, and you have a hacked PS3. The only way that could get easier is if it rubbed your feet at the same time.
As of right now, a website is taking preorders, but buyer beware because the site looks very dodgy. The device costs $169 AU plus shipping outside of Australia, with a 15% fee ($25.50AU) for cancelling the preorder. They don't take phone orders, don't answer questions, can't have an order page in proper English despite being Australian, don't have any kind of return or damage policy... the only thing they acknowledge is that you might get your PS3 banned for using the device, and that "Sonly" (SIC) can block this with future updates. Case in point, if you spend your money on this device, you're probably going to get what you deserve.
The other big question for me is what Sony is going to do about this. When Mr. Hotz put out his Other OS hack, Sony responded by removing the Other OS option - an option they used to sell the system to people that wanted to customize their systems - without a moment's thought. They're still fighting a class action lawsuit due to that, but Sony has shown that they have no hesitation in punishing paying customers to keep their systems secure. My question: what will they take away from paying, legitimate customers next?