I think the team is new, I never heard of them before, but when they announced that they were working on a downgrader and dualboot solution they released video proof and showed the dual boot feature in action.
They released it on Oct 13th 2011, and it's a real product.
Few days before the release, they announced that they were working on a "limited edition" (3000 units) solderless chip for all slim and partial FAT console .
That solderless chip is not working with dualboot yet, they changed the hardware recently and are working on adding the dualboot in this version.
here is a quote from the team, found on ps3hax:
2: we design e3 flasher on solder way at first, this way can get dual boot well. But later we change hardware and software design because of adding clip. so finally it’s difficult to get dual boot function on e3 flasher clip version.
3: You still can get 3.72 and 3.55 switch with 2 HDD, it need more steps than dual boot, maybe we can call it half dual boot. This way no need any solder. We will release this half dual boot way in few days, you just upgrade e3 flasher limited and get it work.
Check the full quote
here.
So I guess it's a reliable team, they announced it, work on it and released it. They even updated it to be a solderless chip as it's easier for end user, and are still working on adding the dualboot.
It's a little expansive for "current" gen of hack devices, but ~100$ was a common price for modchip not long ago. I think it's a good price for what they offer (a lot of new hardware, HDD station, etc.). I think the users got too many DS flashcard for 10$, they just forgot the modchip prices.
Here is a
review of the E3 Flasher.
And here is the video showing the dual boot:
[youtube]http://www.youtube.com/watch?v=-FJsuc_uAjc[/youtube]
