Today we installed a Modbo 5.0 modchip into a phat PS3 for a customer.
Here are some pics and explanation of the install.

Firstly the obvious step is to dismantle the console.

After disassembling the console the next step is to select the apropriate install location for the chip itself,this will depend on the model as to where the chip is best suited to mount.

Once we designate a position for the chip we can go ahead and start soldering the wires as per the diagram.

there is a link at the bottom of the blog to all the installation pics for the modbo modchip

Here is the finished install,the Matrix splash screen and the console loading burnt games.

The modchip allows you to play backup media of PS1 and PS2 games.
You can also setup the config to run games from an internal or external USB hard drive.