Originally Posted by jester
Someone told me that the regulator gets pretty hot in a small amount of time. I personally never tested that. I usally power the chip using the nor vcc line. (pretty stable 3.3v)
Ah..! Remember to write in the README that if someone wants to run it at 3.3, he needs to set the clock prescale to 8mhz  At 16mhz it can work but usually you have bad dumps and strange behaviors :P
Sorry for the picture, my fault
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My understanding was that the regulator only gets very hot if you use the teensy to power the NOR (which then also powers southbridge, etc). That's why you shouldn't connect Teensy VCC pad to PS3's VCC solder point.
And it might be a disadvantage to power the teensy using nor vcc line, because it already happend to me, that in case of a bricked system, the PS3 immediately shuts down. Although I didn't measure whether 3V were still available.
And yes, according to the Teensy specs, it should only run at 8 MHz on 3.3V. I'll also update this.