The end result is that I have every one of my 27 Wii games and and 25 GameCube games ripped and stored on the USB drive, and I can play any one of them now by simply powering on the Wii, browsing to the desired game in WiiFlow, and pressing A on the controller. Run various and miscellaneous utilities such Wii and GameCube memory card management utilities, allowing me to copy/backup saved games from the Wii or GameCube memory card to my computer.
The results were, to be honest, quite spectacular. I picked up a Wii earlier this year and decided to hack it to see what benefits that would provide. Skip to: Part I - Exploit | Part II - Wiiflow Introduction