V1/2/3 Not Worth Modding?

[Louche]

I had always thought it was too complicated to care about, but after looking at it, HDLoader seems like it might work for me. I am assuming, even though it never mentions it that I do not in fact need a mod-chip for it to work, right?

Would it seem like a good idea to get a mod-chip to play all the games that HDLoader cannot and then use HDLoader to play everything else?

As well, can I put back-up DVDs onto the Harddrive, or do they have to be originals?