I'm planning on updating my Wii - what will happen to...?

I'm thinking of reverting back to 3.4 because I've noticed a changed on my Wii remote. It's taking forever to connect or to even play with multiplayer mode. For example, the game Tetris Party, I can't play multiplayer because it's not able to connect; the wii remote just blinks and dies. When I used to have a 3.4, my HC worked. Will it still work if I updated my wii? Also, will the wad games that I downloaded work as well, b/c the only thing I needed was FFCC and Lostwind LOL?
Thanks!

Updating to 3.4 will allow WADs that are ALREADY INSTALLED to work. May I recommend maxing out your wii with nice WADs BEFORE updating?