ASSEMbler of ASSEMblergames has written a review of the Wiikey Nintendo Wii Modchip. The review is based on running homebrew applications and imports, not pirated games.
The wiikey offers the following features:
Direct boot of wii backups
Direct boot of GC backups
Direct boot of homebrew in GC mode
Supports all currently available console/drive versions
Supports D2B chipsets
Sophisticated (true) update mechanism via DVD (future proof, expect
cool features to come)
Direct boot of different NTSC region Wii games/backups on US and
JAP consoles
Partial support for NTSC region Wii games/backups on PAL consoles
Boots different region GC games/backups (partially without swapping)
Supports multi-disc games for BOTH Wii and Gamecube
Supports DVD-R / true DVD+R and +RW support (no bitsetting required!)
Improved readsettings for recordable media
Built-in audio fix
Supports fullsize 4GB discs for gamecube homebrew
Stealth mode
512 byte EEPROM to store configuration
Quicksolder interface - no wires required
Unique disc backup application via sdcard
Compact design, best quality components, rock solid high speed controller
Professional ESD packing
Recovery mode - Can recover from a bad flash
This could be very helpful for a ton of potential Nintendo Wii coders out there!