The Cobra USB team has been working on the two projects in front of them. There’s the Cobra Optical Disc Drive Emulator (ODDE/ODE) and then there’s the 4.30 custom firmware for Cobra USB users, both of which were announced a while back. The team has announced their progress regarding the latter. As you know, the custom firmware was announced for those still using the dongle on the 3.55 firmware and wanted to have access to the latest features that Sony has introduced over time. The 4.30 custom firmware has entered its beta testing phase and includes all of the dongle features including PS1, PS2 and PSP playback. However, with the new firmware, PS2 support for non backward compatible consoles will be lost since it was removed in the official firmware.
The team has not shared any news about their upcoming ODE product. Now the question is, will you be updating to the new Cobra firmware when it is released?
Source: Cobra USB