Is it now safe to update to 4.0?

Apologies if this has been asked before.

A good few months back, I installed the Homebrew Channel on to my 3.2E (UK) Wii console. Everything worked fine, enjoyed homebrew etc.

Then 4.0 was announced (and released), and as far as I know, if you updated it you could keep the Homebrew Channel, but sacrificed 'safety measures' like Starfall, as well as future installations of certain applications (DVDx, if I remember correctly).

However, now with "Bannerbomb" (I've looked around a bit), can I safely update to 4.0, and have the benefits of it (booting WiiWare straight from the SD card)? If so, potentially stupid question, how? Do I just click the "Update" button on my Wii? What would I be sacrificing, and what would I need to get?

Again, thanks in advance, and sorry if this has been asked a million times before.

I'm wondering the same thing.

It is very safe, which I can confirm the Homebrew Channel installed from 3.2E to still be functional after the 4.0E install.

Everything else can be installed via the Homebrew Channel.