Risks Involved

I plan to go through with the install but I plan to bide my time until I make a final decision. What potentials risks are involved with this? I want to be prepared.

Your warranty will be voided by installing any homebrew.
Homebrew like the Homebrew Channel is relatively risk free, but a bad Bootmii/Boot2 or Priiloader install might brick your Wii.

Alrighty I guess I'll take the risk then.

I should also mention, Bootmii installs will only brick if there's a power cut or something. Probably.