I have ordered one to check it out. I'm guessing it's a Chinese version (based on the rather bad english in the documentation). It's a great price! Too bad it has a butt ugly dongle though (IMHO). I can't imagine someone wanting that phalic symbol sticking out of their PS3. It's even worse looking than the BlueWave. LOL But as long as it helps more people solve their PS3 IR problem, it's a bonus. I think we can officially say that this market is well covered now.
Originally, we had the PS key working with the PS3IR-X1 but, unless we used Sony's USB vendor ID, the PS key was not enabled by the PS3 firmware. In other words, Sony purposefully blocks the use of the PS key for non Sony products. It will be interesting to see if they are using Sony's USB VID.
BTW, we have repeatedly tried to contact Sony to arrange for our VID to be added to the list of products with the PS key enabled. We have had no luck though.