There Exists a 2-states 3-symbols Universal Turing Machine

It recently came up that there exists an universal Turing machine with two states and three symbols. This is the smallest universal Turing machine known so far; note that smaller Turing machines (with 2 states and 2 symbols) cannot exist.

The problem of finding such a Turing Machine is rather old, but only about an year ago Stephen Wolfram announced a 25,000$ prize for the person who would prove that such a machine is universal. The prize was won by Alex Smith an undergraduate student from UK.

I think that the result it's rather nice. I am curious to see if this small universal Turing machine is also a fast simulator (well, I should read the proof carefully to see this ...). From another point of view, I am curious to see what impact will have this result in the nowadays theoretical computer science; I think that it should be received as an important result, but, however, not as a major breakthrough. It was claimed that such a result may help in finding small universal bio-inspired models: it may be true, since most of the universality results for such models are based on simulations of the Turing machine. However, I think that we won't find a really efficient universal bio-inspired model as long as we don't prove directly an universality result for such a system (or at least simulate a similar model, not a Turing machine).