4.11 solderless/flash free downgrade?

Hello! As you can see I'm new here because i needed an opinion/advice on something. I recently got myself an old phat PS3 which had fw 3.55 on it which was a miracle however I decided against hacking and updated to 4.11... i now regret that decision. After looking for a way to downgrade without having to Solder anything/Flashing and i came across this article; http://www.squidoo.com/ps3-downgrader (Also contains links to the 'official' site of the software)

This is the first I've heard of anything like this and as such I don't trust it. Is this legit or too good to be true?

Thanks!