I certainly know about jailbreaking, I've jailbroken my iPod Touch 4g about 2 or 3 different times, but wound up restoring it after each time. As for my Wii, I did load the Homebrew Channel to that.
To be honest, I am neutral when it comes to jailbreaking. I know people use it to expand their availability of apps and such, but the only reason I would do it is so that I could get newer OS installs onto the device (eg rooting Ice Cream Sandwich onto a device that can only go as high as Gingerbread).