Actually, no. He claims if you capture 3.1 iBEC and iBSS files he can convert them to 3.0 files. He doesn't explain how he does this. And he does not claim you will be able to downgrade to 3.0.x. In fact, the problem with this whole concept is that if you follow the steps he gives you you will permanently lock your baseband and you will lose your jailbreak.
Finally, it appears his real purpose here is to get people to buy him an iPhone 3GS. Which makes me wonder: how does he know he can do this for the 3GS if he doesn't even own one?
In short: this is a scam you shouldn't touch with a ten-foot pole.