Added on Nov 23, 2012 - MT65xx is truly UNBRICKABLE
it seems that MT65xx is really 'unbrickable' thanks to whitetigerdk who inform me with his how-tos
So you can raise your DEAD MT65xx back to life...
The trick is quite simple, for whitetigerdk case, he flash his GooPhone Y5 with Zopo100 factory ROM & the phone went DEAD...
He proceed to reinstall preloader driver from Zopo & was able to use FlashTool again and flash back his factory GooPhone ROM & thats how he brought back his MT6575 back to life...
Updates
i've pm'ed whitetigerdk & got a reply from him confirming that indeed his GooPhone Y5 has this META mode built-in (plug in USB while holding VOL +)
Device Manager will detect new device... Having said that, not all MT65xx device has this feature...