2.88 floppies

Apparently Intel has the trusty old floppy scheduled for the chopping block, so naturally I am more interested in them than ever. Part of my purchase today was a pair of Panasonic LKM-F394-1 floppy drives, (Gateway branded LS-120), which I was kind of assuming would at least "read" a 2.88 floppy, but from what I have read it looks like I am wrong. Is it just the Fujitsu Flopticals that will read 2.88 outside of an actual 2.88 floppy drive? Also I know the list talked about it a little, but does anybody know how these USB floppy drives actually work? I saw a snippet in a dogpile search fairly raw signal is passed via the USB with the processing done by the host PC cpu. That would suggest a lot of modification possibilities wouldn't it?