I'm so doing this, the advantage for me is since my secondary machine is not just what i use for legacy formats and formatting and backing up/archiving it's also a multi boot, with this mod OSX with detect it as a USB floppy. the down side is the bios not see it as floppy but, that shouldn't matter it's new enough board that is flashes from FAT32 USB any ways.
Awesome if you still work and or play with legacy stuff. The ironic part is the Chinese manufacturers could make and sell these like hot cakes on eBay for super cheap. Also is you so wish you have wind up with a free Floppy connector (at least in my case) that could be used for another floppy drive or floppy drive emulator.
http://www.ebay.com/itm/NEW-3-5-Floppy-Disk-Drive-to-USB-emulator-Simulation-1-44MB-for-Musical-/251360060639?pt=US_Floppy_Zip_Jaz_Drives&hash=item3a863a24df
