I went to pick up a USB->Ethernet net adapter for $9, but I wasn't sure it would work - Unfortunately, they didn't have any - So i'm delayed at this point.
My end goal is:
Have a LiveCD type boot from the SD Card so that No partitioning is required - problem with this is that the configuration would need to be saved - at this point, it appears as tho, the only config I would need to keep is the database connection details stored in /etc/mythtv/mysql.txt and /etc/mythtv/config.xml (which may not be correct).
So - Using the Homebrew Channel, you'll be able to load up the .elf file, which boots a LiveCD, the LiveCD will mount and check for a config on the SD Card which will then create the required config files. All this, while looking pretty.
Another thing I need todo is strip out all the things we won't be using from the Linux Distro I'm basing this off of - thus making it as small as possible.
A quick reminder, that you will need a USB Network adapter, because, at this point the linux kernel does not support the internal wifi adapter. Secondly, it should be noted that the Wii will only run in USB 1.1 mode - Thus, limitting to 12MB/s.