Yeah, it should be completely possible.
Here's how:
Install the OLDEST revision of IOS41 (get with NUSD, install with WAD Manager)
Run TBR, choose to run on IOS41 and downgrade IOS15
Reload TBR, choose to run on IOS15, patch IOS36 with all patches and install to IOS36 or IOS236, your choice
Reload TBR one last time, choose to run on IOS36 and upgrade IOS15
Run dop-Mii and choose to run on IOS36/IOS236, wherever you installed patched IOS36
Choose to install IOS34, and install v3348
Run the priiloader installer and install Priiloader
Get the 4.3x hacks.ini, and install the "No Delete RDZx, HAXX, DVDX, JODI, DISK, DISC" hack
Run HackMii Installer and install HBC and DVDx
Voila, Wii is hacked.
(Optional) Update IOS34 to its latest revision (I think this must be done manually with NUSD and WAD Manager, and is advisable)
You'll need to run everything via Indiana Pwns or Smash Stack. As you need to run various tools etc, I advise using LoadMii as boot.elf on root of card, and then use it to run various apps.
Finally, I have not tested this method personally, but to the best of my knowledge it should work fine.
EDIT: If you're unsure about any steps, don't try to follow the guide.