Probably would have been better in a General forum, seeing as the only issue you currently have is a lack of an actual Wii.
1) Most people buy Wiis to play games
2) Makes no difference retail or backup
3) Don't, see what you get before you think about changing it.
4) Gamecube games have their own backup launcher.
5) LU64 could happen. Not such a big disability anymore.
6) Get DVD-R, Verbatim for best results. The Wii drive is fussy.
7) Not necessary to patch all games. Many loaders circumvent updates.