This device is simply a faster version of the venerable serial coders cable built by Marcus Comsteldt and later sold commerically by Lik-Sang. It does not add a USB port to the DC so you can't plug a USB drive into it. This is essentially a USB-Serial cable with 3.3v ttl interface that connects directly to the DC's serial connector, bypassing the RS232 electical and bandwidth issues. The top baud of this device is 1.56M baud as compared to 115200 baud of a typical serial coders cable. Sorry to dash your hopes. This is a far simpler project then trying to add a USB host controller and device drivers to a DC. You are not the first person I've heard from who has wanted to plug USB devices into a DC for just the reasons you stated.
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