The ODE will cost money for one. As well, (currently) you will NEED
to be on exploitable firmware ( < 3.55 ); therefore if you have a 3.xx or 4.xx console you need to buy this device AND a flasher to be able to USE the ODE properly.
The ODE is strictly for piracy, nothing else; On a CFW, you have your backups, homebrew and a plethora of other things that you just simply will not get with this device.
Like I said in another thread, this device is targeting the ignorant (not used in a negative connotation). The "free" games that people think they are getting cost money because:
1) Buy the device
2) Buy a flasher (if your console is 3.xx or 4.xx)
3) Subscribe to an internet service
4a) (may) need to purchase a (new) HDD (the rips are 1:1, so you may encounter 25-50GB ISO's, therefore filling up your HDD pretty darn fast)
4b) Need to buy BD-R's and Blu-Ray burner if you chose to burn games to disc
5) Need power to run your: Tv, PS3, HDD, controllers, etc
When you bundle in the price JUST to play your "backups" or "free games" it isn't quite free after all. The ODE also carries no guarantee that it would or would not be detectable by Sony, therefore enabling them to ban your console from PSN (as this device theoretically will let you be on OFW).
Best thing to do is save yourself a bunch of cash, and either go buy a flasher to downgrade your console or try to find an old console you can put CFW on without the need for flashing.