Well, it's real and it works. I have happily performed the reset glitch hack on both Phat and slim Xbox 360's :-)

First, the pros. It works!!!! Once the system boots, it works exactly the same as a normal Jtag. All those who have asked me over the years if their xbox running 8955, 9199 dash etc can be Jtagged - the answer is now YES! (well glitched anyway).

Second, the cons. Not many really. The biggest problem is the inconsistent boot times, mainly with the slim console. The phat seems to boot fairly consistently at around 8-10 seconds, but the slim can take anywhere between 10 seconds and 5+ minutes...

The reason? Well the reset glitch hack is all about timing. The glitch chip basically minutely slows down the processor at a specific time during the boot up process. It’s a precisely timed foot, put out to trip the processor as it runs past (and by precise, we are talking in nano seconds here). It keeps trying until it works.

It can be improved by lengthening the wire used to connect the glitch chip to the processor, but this is also a bit inconsistent. The thought is that the longer wire causes more interference (distortion on the wire) which aids in glitching the chip. Interestingly I noticed that this usually worked very well on initial boot with a slim (8 seconds on the first go!) but rebooting after a long gaming session meant a 10 minute wait. My theory on this is that the increased heat within the system improved the electrical conductivity of the wire, improving the signal but decreasing the effectiveness of the glitch.

The phat does not seem to suffer from the same inconsistency, but (as with the slim) it did seem to take much longer to boot if the system had been running.

Other issues?

NO XBOX LIVE!!! (Did you really expect anything else?)

It takes a bit longer to do than a standard Jtag.

The wiring and soldering is a bit more difficult and some of the solder pads are trickier (with no alternative if you happen to de-solder a pad). This is not really a job for noobs (but hay, we all start somewhere).

New Security Check Found In Forza 4 – Not Safe With LT+ V2.0
 
Putting it simply,if you managed to make yourself a backup copy of Forza 4, it's not safe even on LT+ v2.0. It has been discovered that a new security check makes backups unsafe for Xbox Live on LT+ v2.0. There is a LBA hash check that is new to the game discs that the current firmware cannot bypass. However, the good news is that c4eva is already working on an updated firmware to take care of all of this.

What does this mean exactly? First off, it means that you should not be playing Forza 4 before its release date if you care about Xbox Live. Second, it means nothing now besides what it is going to accomplish?  Of course, this does not apply to you if you have a banned Xbox (and rumours of the next "Ban-hammer" are running full force at the moment).

As any new developments come in, I’ll keep you posted.
 

A Reset Glitch Hack project that goes by the name of RGLoader is nearing completion. RGLoader is a loader that will allow you to load a hacked kernel on your Xbox 360 console via the Glitch. The purpose of the loader is the same as a rebooter for JTAG consoles. Take a look at the progress:

UPDATE: 30/09/2011: We've managed to get 13599 kernel loaded! It was actually a silly mistake with fixing CF's pairing, but now that's fixed we can move on. :) There is still however a e79 being thrown, this must either be due to fuse checks or some other zeropair related thing. For those wondering, I checked if it was 13599 loading by forcing VdDisplayFatalError to always display E99. A patch loader is being written at this time (beta: Patch Loader), hopefully we'll have it booting very soon :D

How fast this patch loader will be built? That, I don't know. What I do know is that if the RGLoader is completed soon enough, it'll be something.

Source: Xedevwiki via 1337Mods