Myself, I don't mind the LED too much, but apart from the cyan and green colors for connection state, I don't understand what it's showing. Apparently it flashes red when I press buttons, which doesn't seem useful.
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Is the source code for HzMod available somewhere? I only found what is...
I went to a garage sell last saturday, and the lady had a PS2 for sale, but she had a sign on it that said "Nintendo -$50", had to laugh, almost bought but she didn't know if worked, and she didn't have controller or cables, so I passed.