From what I've read people seem to be sugesting that if you bypass the patch and perform this hack and then play a ranked match or two it might stick, but anyone who bypasses the patch to try this can find a game because no one plays on patch 1.0.
I am quite interested in this hack and am lucky enough to own two ps3s, so I could potentialy bypass on both ps3s, play a few cage matches and see if i can make this work. Unfortunatley the 120Gb ps3 I recently purchased decided to break and ill have to return it for another next week.
Ill post again after i get the replacement and try this out