Most of the Mod haters are saying it's wrong. I guess that's right, but the thing is, Nintendo factors in piracy into their prices anyway. I bet you games would be 10-20 bucks cheaper if nobody pirated games.
Modding a console is perfectly legal. Owning backups is perfectly legal. What's illegal is copying games you do not own.
Even if my Wii does screw up, I'd buy another one. For games, accesories, etc, i've paid more than the Wii itself (~$300), and frankly, I think I should stop. I'll still buy great games.
I have the WiiFree, it's basically a free chip. All you need are the parts (approx 2 bucks) and you're set. For that price, I'm using my Wii much more.
It voids the warranty: Your warranty is only for 1 year. Besides, Best Buy will replace my Wii even if it's modded.
It's illegal: Owning a modchip and backups? No. Owning copied games you dont own? Yes
It's stupid: Can't afford the $2? You get an infinite amount of savings (that is, until Nintendo stops making Wii games).
It's modding: No, really, do tell me more
It's for |\|00b$: It's actually quite the opposite.