There's a promising new modchip for the Nintendo Wii, the WiiXT.
There's few evidence that this is real but it's one of the most amazing modchips. Besides being able to backup any region Wii backups this chip also activates support for playing DVD movies.
When will the chip be available for purchase?, How much will it cost? - Hopefully we can manage a rollout of the chip sometime within the next 3 months, once we have the funds to start mass production, you will know about it. At the moment we are aiming to have the chip reach consumers at a price of around $64.95 USD (includes dongle), though this is subject to change.