I didn't try it.
It's not a new one, it's from july 2010.
It's a command line proxy without any options, no information on which servers are blocked, if they are blocked or redirected, etc.
And I don't like the readme (yeah, I'm basing my suspicious only over the .exe and the readme), I need to read forums and users report first before using unknown softwares.
I (and you) don't need this one.
I'm using "ProxyServer CF3B5" (which can even replace files dynamically). It's working and do the job just fine. (There are PS3, PSP and Wii mode, but it's working even without these options)
Other solution :
PS3PROXi v1.1, but it's buggy and hang to often.
Logan5's tool, I didn't try this proxy
Server Proxy GUI, didn't try it either.