The guys at Team Underdog has made several announcements on their page. Special mention of these updates is the official release of the NME-360 v1.1 Chip - considered as the "first real Modchip for the Xbox 360" and expected to play backups on you Microsoft console. The team also announced that they are setting up the new installation diagrams online in a few days. They have also noted that the NME-360 v1.1 chips are still two different chips for Samsung and Hitachi.

The Hitachi chips will now be marked with a white stripe, while the Samsung chips will be left unmarked. Be sure to watch out for the video that Team Underdog will be releasing - it features the cool activity LED in action. Also the team would set up a support forum for those who are experiencing problems with their NME-360 v1.1 and our aSSociat0r tool.

And for your viewing pleasure, Rob sent this cool picture of NME-360 LE sitting behind the window of the "X".