yep follow the instructions to the t.
Read through the guide a few times so you understand it a bit more and ask any questions in the guide thread.....
If you have a spare usb hdd about you can also rip your games to a external hdd so you wont have to keep inserting discs all the time..

If you have any problems running certain games via a softmod you can look here If the games isn't listed in that thread then post up and we can try and help

Post up in the introductions section and you will receive some more helpful links.... Introduce Yourself