Here is an update for Cobra USB users by johnnydoe of the Cobra USB v3.55 patched with Kmeaw features: *********.net/forum/threads/355-Cobra?p=3474#post3474
To quote: Hi everyone! i have patched the cobra firmware with the usual stuff like lv2 peek/poke etc both their core os files are patched so it should work with or without the dongle.
If you wanna unpack it and have a look or try it you can download it here: http://www.multiupload.com/3B1XM6OUCE
From the ReadMe file: This is cobras 3.55 firmware patched with peak/poke for lv2 on both coreos files and the usual vsh/nas_plugin and install package file option.
Finally, confirmed by PS3 hacker Cyberskunk stating there: It is what it says it is but you would still need the dongle to use the cobra features. I have not installed it though..