Slide Card/Swap Magic CD = Mod chip?

[Neobara]

I see nothing but discussion for the best mod chips when I visit import/backup game forums. However, I'm not one for too much of a hassle and installing a chip into my ps2 or sending it off for someone else to do it seems to be just that. So, in light of this, is a slide card/swap magic 3.6 cd a good alternative to modding a ps2? When reading the description for said product i'm assured that these two items in conjunction can play import games without the need for a mod chip (and makes playing my import game at a friend's house all the more feasible)... but is it true? I just don't want to buy this thing and end up needing a mod chip as well. Anyone have an answer? Thanks.