No way that sounds like a ton of work. Plus the dvd drive key would only allow you to play the dvd drive on that specific mobo. You would have to flash the dvd rom every time you wanted to switch it.
I just have a 360 that is normal/unflashed that I play online with retail games like Halo 3 etc.
Then I have a 360 that I play back ups on and its for games that I dont care about going online to play.
I use one hard drive and just swap it back and forth.
Ive been online with my modded 360 because I was curious and I figured if it got banned I havent lost anything and thus far havent been banned. Knock on wood of course.
Hey man, thanks for your help on my xbox 360 blaster issue, just wanted to know how you do your setup, like do you play live on one xbox 360 then take that drive to your mod system so you can continue to get achievements and then unplug it to put it back in un mod one to play live?