I didn't know this was something that was ever done. That's pretty damn cool! I don't always buy games through the PSN but when I do, I drink Dos Equis this'll be useful.
It's a good idea. However, this will be rather easy to abuse it, don't you think? The only thing standing between accessing the game is a lock. Sure, it'll be secure for most people, but there will always be the possibility of cracking it, so to speak.