Hardware lag switches suck arse, sorry. With the right software/setup and correct lagging configurations for certain games, you'll be a much better lagger. Software tools bring a lot of potential: blocking incoming or outgoing traffic or both, dropping % of packets (higher chance of less connection unstable errors on screen), IP addresses blocking (very useful for P2P games), delaying outgoing or incoming packets (extending your ping time - it acts as if you live in Japan connecting to a server in USA), packet filtering (filtering consistent packets that are bigger than 3kb can cause new glitches), cycling packets (repeating same packets, which can cause server and client confusion), modifying outgoing or incoming speed (you can make yourself look you're using a dial-up connection lol), and many more. Hardware lag switches don't have these options, so you're pretty much limited if you use one of these. Fair enough, it's probably better for novices that want to lag.
Sure, there's a lot of software tools that require you to right click an option and disable/enable it and then repeat the same steps; thus wasting your time to pwn people in game in the meanwhile. Doing nothing in game because you're busy using your hands to right click that option and enable/disable something can cause your own death quite easily. However, there's a separate tool that can automate the process for you with a single click.

Figure it out by yourself.
Oh, yeah, 100% of these software tools work very very well if you only connect PS3 to your laptop or desktop that have use such software tools. Alias PS3 -> Laptop/desktop (with software tools) -> Router.