I'm quite confident in my Soldering skills, having done many PS2 and Xbox mods. I did my first WiiKey mod today, and when I fired the Wii back up, the DVDrom drive made this weird 'screeching' like noise. The DVD spun maybe twice, then stopped. It then gave me the cannot read disk error. I tried an authentic disk, still no read.
Did I somehow fry the Drive somehow?? I'm 100% my Soldering was perfect. Its a LU300 serial (DMS chipset), with a v4 wiikey. And 3.1u firmware on the wii. I cannot guarantee that the wiikey was 1.9b/g going in, as the guy bought it about 4-5 months ago he figures.
Everything else on the Wii works 100%, downloaded games, internet, etc.
If the drive is not accepting or ejecting discs then the cause may be a fuse. Check the Sticky Firmaware updates, Wii... etc.. There is a link in the Resources section, under troubleshooting.