The WODE will allow your useless DVD drive to rip games now my friend. The ripping feature has been public for a few days now.
But focussing on your Game Cube question.
You can wait by all means that is your choice of course.
Wode does play Game Cube games via USB hard drive, USB key drive or SD cards.
WODE is not just a means of playing games via a USB hard drive - the networking feature that the dev team will now begin working on will transform the WODE into a far more versatile and powerful media tool. What I am looking forward to is being able to stream my games stored on my hard drive of my PC to the WODE and playing them. No time line on that but I know it is possible.