I had a bit of trouble and confusion at first too but softmods are actually easy if you pay close attention to the installation instructions.
I updated my wii to 4.2 as soon as I got it out of the box. I then pre-ordered the wiikey fusion which I now regret because the softmods are much better especially when you can load from a USB External drive.
There is no telling when the fusion will be available. At least the wode team gives updates on their site.
The wiikey fusion would be a good option if you feel more comfortable going that route. You may also want to have a look at the wode which is far superior to the fusion. I am actually considering changing my order to the wode.
Good luck with you modding and remember to play it safe. Nobody wants a $200.00 brick sitting around.