Soft/Hard mod and wii version help plz

I have a black wii. Serial LU81394983 Drive chip database says

I was wondering what exactly my wii can and cant do.. Also to play backup copies of my wii and GC games what do I need to do? Is a software mod all I need? Or should I buy a WODE? If I get the WODE can I still run home brew channel?? Thanks for any help on this!

Wii Drive Chip Database - Serial Number Estimation

^Unless that Wii's purchased before the latter half of 2009, you'll likely have to go WODE. And there's a specific sub-forum dedicated to the WODE on this site, FWIW...