What about the Wii Firmware update 3.0, does it affect a Wiikey moded Wii?
For the moment there seems to be no problem updating to Nintendo’s Wii firmware 3.0 if you have a Wiikey installed. However, special patches have to be applied to gamecue-homebrew discs, including the WiiKey setup disc. The Wiikey team has promised to release an updated version of the disc in the near future. Wii backups are not affected by the update.