It would, in essence be possible to have multiple chips (similar to the "Undiluted Platinum PSP Mod Chip")
There are people out there who have a better understanding of the PS3 than some of the current people that find work-arounds.
It is always a fighting battle between the companies and "hackers", we will always have the ability to find work-arounds, however when they are found and exploited they are then patched by the companies.
we all know this, im just re-stating the obvious to give a different perspective on this note.