Meh, there's obviously the risk of bricking and loss of Xbox live to think about.
I don't hack consoles unless I see significant benefit of doing so, my PSP is hacked for emulation purposes, for instance.
My Wii is hacked with homebrew channel but I don't even use it. I don't see the point of hacking a console without it having benefits,l plus if Microsoft finds out your xbox is hacking they can make your xbox unable to do anything anymore.
Hacked Xbox should never try going online.
Hacking Wii is safe but after update, Homebrew channel must be reinstalled. Homebrew is part of softmodding the Wii. There is also Hardmodding with Wasabi or Wiikey chips. My Wii is both Hard and softmodded.