[kosmiq]

Yes softmodding will work fine. The only problem nowadays is to find the required games. Sure Splinter Cell and the like is widely avaible, but there is one problem. Any version newer than the original release has the exploit fixed so it is not usable. The same applies to Mech Assault...

The other problem is to have a mem card, some do most don't have one.

Read the guide and do what it says and you will be fine.
But I can recommend Krayzies installer instead of softmod installer deluxe.
it is using a better exploit...