I have a Ninjamod (www.Ninjamod.com) in hand that I got as a sample from Luis, I don't have any pics at the moment but if you need them let me know.
Let me start off by saying installation was a bit fussy and not for the new to soldering, if you aren't careful you will try to lift pin 9 and break it in the process, this pin controls the saving of the SRAM on the Ninjamod chip itself, IP settings, etc.
The pin ALSO controls the gamecube's IPL bios settings, time/date etc. so it conflicts. You can either have the time set properly or the chip, but not both and this has a horrid impact on Animal Crossing. Hopefully they can release hardcoded IP flashes, video settings and whatnot so you can leave pin9 alone, it really isn't needed in a lot of cases.
Installation (minus the issue above) was just about as easy as any other chip just a few more wires, the FIL34 on the other side of the board was an annoyance because you have to flip the motherboard over
Feature-wise this chip doesn't have much going for it at the moment, it still doesn't have the no-swap drivecode the other chip's in the market have right now. It also doesn't have the streaming audio fix which would be nice for games like Eternal Darkness, (one of my favorite gamecube games) and Star Fox Adventures. Network flashing is awesome though, this is the first IPL replacement chip to have full support for this, which is a real plus for a lot of us BBA users. The doluploading via bba is a nice feature too, it allows the uploading of DOL files from pc via a netcat type-ish software.
All in all the Ninjamod is an OK chip, it's still a bit primitive to today's standard of modchips. I spoke with Luis himself a few days ago and No-swap drive code is being worked on and should be integrated into the next Ninjamod shell.
Thank you for the sample Luis and hopefully we get that No-swap next week
Edit: I forgot to mention the Passthrough, this is done by bridging two points on the lid sensor, or if you are a little imaginative a little switch can be rigged up that will leave the laser always on (bridged) so you can open and close the lid without worry, or switch it so it doesn't bridge the points so when you lift up it acts normal (useful for action replay and such)