Granted the PDF converter seems to have some trouble with graphics PDF's, but for books the converter works very well.
The Kindle is already able to read more than just Amazon DRMed content, it can handle a number of formats.
The hack allow ENCRYPTED Mobi files to be read on the Kindle. So you can buy a DRM-protected mobi book and read it on Kindle.
Non DRM Mobipocket format is already supported on the Kindle - just drag and drop.
A revolutionary portable reader that wirelessly downloads books, newspapers, magazines and blogs to a crisp, high-resolution electronic paper display that looks and reads like real paper, even in bright sunlight.