I've worked with the remnants of the SDK for a while now as part of my Pure/Pulse project that I've slowly been working on for the last 9 years...
What's in here Provides some definite enlightenment as to the development process, but there are some core components missing. if you were to desire to use it for development. It APPEARS that the SDK was designed as a network client/server system for offloading the maya conversions, VEX optimization and repackaging, and without the server, this is useless for the intended purpose.

This said, there's a lot of fun things you can do with the data contained within, and some of the client side binaries.
I'll leave it up to the reader to make their own assessment as to what one could do with a full copy of the maya assets, textures, etc from pulse, but remember kids, copyright infringement that is not part of "fair use" is not cool.

Another interesting note-
PS3 Wipeout does NOT utilize the WAD format, and makes poking around in it pretty straightforward, and a lot has changed, but it appears that there WAS a plan (or at least capability) in the cross-building tools that existed by the time ps2 pulse came into being to build the assets and game for the PS3.