Your wii should be fine. Check out the links in your introduction post for softmodding your 4.2 wii. Face it, at least your are not on 4.3. Also, disc loading is not an option for you, with how new your wii is. Your only option for backups is USB loading, also linked in your intro post. Personally, I recommend recommend fat32, but either will get the job done. So the investment would be in the 2gb SD card and the USB HDD or large flash drive.