Chillin_Dude does have good points, and I do agree with a lot.
I think installation wise, a softmod is better. BUT functionality wise, modchip/TSOP are better.
I do not agree that softmods are free however. You need a game, actionreplay/memory card/usb device etc which I definatley didn't have all of at first.
I suppose XBHDM way is free though.
It's all opinion based.