Its pretty straight forward. I followed and learned a lot from this guide here.
http://www.360mods.net/Downloads/details/id=61.htmlHardest part was getting my drive into mode b. ( I have a Hitachi47D)
If you do decide to do it and have any questions, i'll be more then happy to try and help ya figure it out.
Just in case you didn't see it, they are banning people from live! now for having a modded 360. They are detecting you are playing a burnt game and you get the boot. I'm still keeping mine modded and if I get banned, so be it. I dont play live! that often anyways. Bandits got a post around here somewhere about it.