Sony has been quite successful in deterring game piracy for its PS3 console so far. However, this may be about to change if a rumored Belzar mod chip turns out to be real. Besides supporting PS2 and PS3 bootleg games, the hardware-based hack promises many other functions ranging from stealth mode (read: to make the chip harder to detect by Sony) to region-free DVD/Blu-ray Disc playback.
There are, however, two major drawbacks. For starters, you'll have to disassemble the console to solder 12 wires to the mod chip circuit board. More importantly, there's no guarantee your modified PS3 will be compatible with future Sony firmware upgrade and software patches. According to game portal PS3 News, this world's first PS3 mod chip is currently in the testing stage so don't expect to see it in the market anytime soon.
All said and done, you may be better off buying licensed games to save all the hassle and spare yourself the misery of "bricking" your PS3.