GCLoader sounds very good. The very high price and problematic availability have to be considered. What stops me from agreeing to the ODE being the ultimate thing with no downsides is, that it replaces the drive and doesn't have a passthrough (I think WODE could do this). The hatred towards optical discs is understandable with the fragility of media and drives, but… I don't know. Something is missing without. 99% of the time I play the Wii with USB loader; but I wouldn't feel good with a modification like "take out the drive and mount a HDD inside soldering to the USB connector" which some people did in order to not have a HDD next to the console.
If I get my hands on a GCLoader, I'll install it into a GameCube with broken drive.
As for practical, cost effective solutions: In my opinion loading from SD-Gecko or SD2SP2 has become very good; no skipping or stuttering cutscenes, no overly long loading times for the few games I tried (Resident Evil skipped two years ago). The Windwaker exploit is very convenient for unmodifed GC – pressing (Start) on title screen – assuming one already own a legit copy of Windwaker since it is somewhat expensive now.
The costs for a XenoGC and good mini DVD-R are neglectable when only using one good disc for Swiss (it can automatically load newer versions from Memory Card or SD) for SD card loading instead of burning all your games to discs. It saves the drive from stress as well. Playing games from DVD-R isn't my preferred method with the bad performance (disc read errors) of GC drives on burned media.
It comes down to personal preference, things a person owns right now (like an exploitable game) and the amount of money one is willing to spent. I would say all different methods for homebrew and backup loading are usable in practice. Being impatient even the Windwaker exploit took too long for me, so I chose the XenoGC route for booting directly to Swiss (GCLoader didn't exist when I did this). Was a fun soldering job as well.
To everybody:
Choose YOUR way; good luck and have fun!