Well I highly doubt MS will ever ban for this, highly! Why? Because this or their own hack became available in China and Ebay is FULL of cloned 120GB drives. Now what does this mean you ask? It means that there will be a lot of parents and college students buying these at $80. Is it their fault that it's not authentic? No Can they take this drive to a friend's house and get the friend banned as well if MS started doing this? Yes
So that would bring SO much heat for MS it's unrealistic. This is unlike the firmware hack, that is. Because you can't buy the hack off of Ebay, MS knows this, you can't "accidentally" take it to your friend's console. They know it's something you do on purpose, a limited amount of people, they know there won't be accidents with people "accidentally" installing it or buying it on Ebay, like with the drive.
If they started banning for fake hds, they'd have to ban for fake controllers from Ebay, too. They'll never do it.