What are your experiences and opinions of Wiikey or other modchips for Wii?

I acquired a hand-me-down PAL Wii for Christmas, so I’m new to the whole Wii thing. I live in the US and will probably have to import my games, but I’m wondering about modchips so I can get NTSC games.

I was researching this today and came across the Wiikey, which sounds pretty awesome and it also gets rid of the region code restrictions.

Have any of you modded your Wii? If you’ve modded your Wii, could you talk about what you chose and why you like it? Any guesses on whether I could get someone to install it for me and what it might cost?

Any other input, pros, cons, experience, would be good, too. Thanks. :)