I'm friends with Killergp and he sent me here after I asked him a question about downgrading my Wii

I'm looking to run Tatsunoko VS Capcom because I was thinking of getting an import copy and arcade stick for Christmas but my Wii is 3.3 and someone said free loader won't work with it [I'll have to pick up a freeloader also to play] but what I wanted to know if this is worth it and if it can be done before I go out and get the stuff tomorrow for Christmas.

Thank you in advance for all your help.