Aaaah, update protection, yeees

There are many softmods that support it. If you are not an impatient type (who wants to play the newest games the day they come out), you can alway wait a few days and see what people on the forums are saying (which new games need what kind of updates), and install the neede IOSes (update files) without changing the system menu version...
I, for one, use 3.2 still, and I hope I will for a long time.
You know, there is one golden rule about not being bricked: DON'T DO ANYTHING StUPID or impulsive

Just read the guides. Just some of them. Only a few pages of info, but everything is there! Follow them word by word, (oh, and turn WiConnect24 off) and you'll be safe for a long time!
As for the safety of the DVD vs the USB backup... they are different things, and I think a matter of preference... I have a lot of DVDs, and don't mind it, I'm not lazy to change them, and I am not afraid to tearc&wear my DVD-Rom drive - that's what it's for

As for backups shortening the life of the drive - this seems like a logical assumption, and I too think it's true (clicking and spinning sounds are a lot louder than with originals - you can almost feel your Wii working harder

) - but it has yet to be proven! How long do you want to use your wii? 3-4 years? Then don't be afraid of stressing the drive