as for a chip it's hard to say.. they all have there pro's and cons... personally I've used the WiiKey... (just finished installing the 15th one today) I've had nothing but good luck with them.
Now if you want to copy an original yes you'll need a specific drive, the LGs seem to be the popular ones.
Then of course you'll need the program that will dump the game:
*Raw dump 2.0
.net Framework 2.0 (you'll need this in order to run Raw dump)