Well the psjailbreak team doesnt have the best reputation, the reason being is because they are unreliable, they tend to procrastinate and will not fully go through with their plans. I, personally, dont have a problem with them but I'm not sure how many people on this site actually own an original psjailbreak device from PS JAILBREAK - WORLDS 1ST USB CHIPSET, most of them use clones. As of now clones cannot be used to downgrade a PlayStation3 console.
Child-friendly? I would say no. These devices will need to be updated with new hex files. Some games have to be edited or patched and require a bit of know-how. If you are the one installing the hex on the device, and you are the one patching the games then the child should have no problem plugging in the device and hitting the power and eject button. As for going online, Sony recently patched this so online is no longer available.
i think we should all be able to say the n word. moving on... How 'bout that walmart? pretty awesome!