Any Updates on the Modchip?

I have been looking around to see if any more progress has been determined from anybody.The only site that I could find that will give more detail about the modchip that is being worked on is here http://www.gcdev.com/phpBB2/viewtopic.php?t=771&start=0&postdays=0&postorder=asc&highlight= another site talking about the improvement of the modchip.I think alot of people say it actually works,and can load the homebrew files.The actual modchip they are working on can load homebrew,but as for games an so forth shall be determined in due time.I hate to say keep waiting on this,but as usual the gamecube peeps still wait like normal trying to find anything that will benefit from the GameCube.