Xbox 360 mod chips due in a few weeks?

Ok, it was cute and all when Microsoft came out with their statements about how "hack-proof" the Xbox 360 was going to be, and they even admitted themselves that "sooner or later someone will work out how to circumvent security," but it seems like we're going to see some hackage sooner rather than later. SPOnG is reporting that the first mod-chips for the 360 will be available within a month, allowing the play of "backup" game copies, which, with the recently released software that allows Xbox 360 game data extraction, means that Microsoft might have some piracy on their hands before too long. Though, if it's any consolation for the boys in Redmond, SPOnG is reporting that "Microsoft's security is the best we've seen to date for a disc-system. It it weren't for the fact that DVD is used, it's likely that further development wouldn't have been worth anyone's time.” Oh the irony.