Wow this post is all over the place. and I hate to tell you this but all of these questions have been answered. It sounds like you don't really know what your doing and to understand the process better you will have to take some time and READ. I'll answer a few to get you started.
1. Yes, in the tutorials and guides section there are two 4.2 guides.
2. It will either work or not work. You won't hurt anything loading it up to see.
3.Yes. In the guides section. Its called virginize.
If you bought your wii new then you most likely can't play any burned backups because you will have the D3-2 which stops this.