1. Why don't you find out yourself?(and hopefully, fully brick your Wii in the process)
2. PAL works on PAL, NTSC works on NTSC, and JP works on JP. Currently, there are four versions for each one; v0.1alpha1(loads an embedded elf), v0.1alpha2(loads an elf from the 1024KB mark on an SD-Gecko), v0.1alpha3(loads an elf/dol from front SD slot), and lastly, v0.1beta1(loads an elf/dol from front SD slot, compatible with system menu v3.3E/v3.3U/v3.3J)
Asking about piracy(in other words, question 1) ain't gonna score you any points here on the boards you know...
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