You'll probably discover after you update your Wii consoles firmware that your Homebrew software would have been removed and all the game saves and other stuff that you accumlated has disappeared as well.
Just recently Nintendo has updated its firmware (v4.2) and if you download the update it will automatically delete any homebrew software or channel on your Wii.
This is not good if you made game saves and relied on this software to play copied wii games. You'll find that you'll be unable to play DVD's and run any games from other countries that you may have purchased.
The good news is the homebrew team of programmers have also made the neccessary updates to make Homebrew installer software compatible with the Wii v4.2 update. This update can be found on BreWii which will show you step by step how to unlock wii v.4.2 using homebrew and wii softmod your console by adding the neccesasy files make it compatible.
You can now enjoy playing dvds, copied wii games, and even run retro games with the update and not have it lost forcing you to start again and redo all those game saves and other stuff you might have setup on homebrew.
To find out more about this update visit - how to unlock Wii v4.2