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PS3 Media Hub both works really well and is a snap to install. Attaching the device to your PlayStation 3 is as simple as sliding in the appropriate adaptor (one for the 40GB model and one for the 20, 60 and 80GB models), and plugging it into the left/bottom most USB port.
There is only a slight difference in the two adapters. The 40GB adapter's pins that allow the unit to lock into the PS3's vents are closer to the front of the adapter, which allows it to snap into that model's slightly different chassis a little better.
The Media Hub is designed to fit in only the USB port to the outside of the system. The male USB plug extending from the Media Hub is positioned to the right of the device so that it will line up flush with the System's left side (or bottom when turned vertically).
As for using the device - my PS3 had no problems with me just plugging it in and using it as if the system had always had those extra ports and slot. Once the memory card was put into the PS3 Media Hub, the pictures and videos that were on the card showed up in the PS3's menus as you would expect.