If you have a Nitendo Wii, there is so much more you can do with it – Play Homebrew (home made) games, Setup your Wii for playing home burned and copied games. ( Playing Backup games from hard drive to speed up the process. ) , Play DVDs.
WiiGuide has an excellent detailed tutorial with screenshots for all these Wii hacks. Read the tutorial here http://wiiguide.byethost2.com/tutorial.htm ; Download all the required apps for hacking and unlocking from http://wiiguide.byethost2.com/download.htm . This tutorial has instructions for hacking the latest firmware 4.0 also.