A new website, d2ckey.com popped up yesterday, revealing D2CKey, a new modchip for the Nintendo Wii. It will be compatible with the D2C DVD-ROM drive controller IC that's found in most newer Wiis. From what's been posted so far on there, here are its features:
Direct boot of Wii and GameCube games
On the fly region patching
Audio streaming fix
Compatible with most DVD+/-R and RW media (no bitsetting required)
MultiGame disc support
350MHz Performance with advanced AES128 bit encryption
Integrates a next-generation ICMS to ensure stability during loading and gameplay