PS2Ownz reports that the application originally dubbed USB-Loader will soon be released and has undergone a name change. Now referred to as USBExtreme, the program will provide users of slimline PsTwo consoles similar functionality to HDLoader and HDAdvance. USBExtreme consists of a pressed retail PS2 DVD disc and downloadable PC client used for properly formatting your PSTwo USB HDD. According to their sources, compatability is currently over 85% for CD-based games, and over 75% for all DVD-based games. Game speed is reported to be decent with NO DELAY in game play. USBExtreme is set for release in early March and will retail for around $28 USD.
Honestly, I am concerned about those compatability numbers and the quote that speed is only "decent." One also wonders why the hard drive needs to be formatted via a PC. I suppose only time will tell.