It still uses a sim card. I don't know what types on serial connections the iPhone has, if any. I'm going to guess the same thing can be done via a USB Bluetooth adaptor once someone figures out how to get past that part.
Regardless, it uses a SIM card. I followed the modification links. Looks like this is real, but looks can be deceiving...
Notice he says an update will defeat the work. That means it is in software, and a person just needs access to changing the code. The wires were a means to do that. It is likely someone will figure out a Bluetooth USB method.

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Billion dollars on a phone.
