What are the differences between softmod and chipmod?

[byte0468]

It may be very known for you, but I'm just a new owner of a Wii console, wondering which way to go for a mod. Can someone please advise me what are the advantages/disadvantages between softmod and chipmod, except price and warranty (possible) void?
Thanks!

[ladyn801]

The biggest default of softmod is bricking your wii, nothing will work; or even getting lots of errors if you don't follow the instructions to the letter. I have softmodded 3 wii's with a walkthrough I found in a forum on afterdawn.com and I have not had any problems. I've even downloaded, burned, and played backup games. If you have the right software, an sd card, and can follow directions, you should'nt have any problems and it is better than voiding your warranty. Also, you stated that you just became a wii owner! If you just purchased this wii then you have the 2nd version and so far I've heard nothing of a v2 mod chip, so going that way might be out of your reach for moment. I may be a newb when it comes to forums but I am an electronics, gadgets, gizmos anything computer nut and I have kids. PM me for anymore info.