I have never had any issues with the Homebrew Channel. I think the only issues I ever had were with warez, like marcansoft said. As far as updating is concerned, I just avoid it all together on the Wii. The updates are usually just to install another way to make the system mods and hacks fail. I learned my lesson the first time I updated after utilizing the Twilight hack. :-\

I agree with Narcocide.

They came up with this option in case you wanted to get to your job on Klaxon 5 a littler faster than you would by taking the space subway.