You could always spend 50 and solder it instead of getting the adapter. It's a waste of $10 no matter what, in my opinion. The damned solderless adapter never sits right and needs constant re-adjustment, even if you use the "paper trick". I have a few of them here that never got installed and I have no idea why I kept them as they're useless.
But basically yeah... it's either get a modchip, use software exploits or flash the TSOP. I'd opt for the modchip but if money is a huge obstacle then you might want to check out the software exploits available to you. You could still run with an upgraded hard disk and hacked dashboard without purchasing a modchip but would require reversing the process in order to acces Xbox Live. It's more manual work, but saves you the money.
Take a look at the 007AUF, Splinter Cell and MechAssault save game exploits. They will allow you to load evox and apply a variety of software mods, the most popular probably being UDE (Ultimate Dash Exploit). See
HERE for a list of tutorials on software mods. I'd recommend the first article for absolute beginners for starters. Then read the next one titled "Checklists For Fonts/audio Exploits And Pbl, Check this before asking questions". Take the advice of the title.