I originally had set up RedNAND, but I was unhappy with the speeds and the fact that it was taking up more than half the storage on my SD card. Also the fact that reformatting or updating RedNAND can brick your console is honestly a little off-putting.
I reformatted my SD card and switched to FIX94's IOSUhax. I'm much happier with the results this way. I feel like as long as I stick to installing content downloaded with FunKiiU or uTikDownloadHelper to USB, the risk of bricking is still fairly low. Things also run MUCH faster.
I also boot into vWii quite often, so it's nice to not have to swap around between SysNAND and RedNAND to do so.