Well not so.... Buying HD loader was not a waste...
See this gives some people the oppertunity to install the exploit (as does AR MAX) with out using the swap method (which is not nice to a console).... By building an image with the needed tools for installing the exploit you can then put that image onto the HDD after formatting it with HD Loader (using WinHiip).... Then just load the HD Loader into the PS2 and run the exploit software...
While in using the installed image you can copy the files over to the MC and HDD into the places you want them... then form now on you can boot the needed files from the MC using the exploit... I personally bought a copy of AR MAX to install the exploit (but atleast I can use it for other things as well)... I also own a copy of HDL and wish I had known about installing the exploit using it..... saddly I got my HD loader in the mail the same day I learned that it had been cracked and was bootable from the MC....
If I get a chance tonight I'll slap together an image for you and give me an email I can send it to... so I can send it... should be under 10MB... so Yahoo can handle it...(PM the Email so you won't get spammed)
PS3 Slim 320GB
PS2 v11 exploit w/300GB Maxtor
PS2 v10 exploit w/80GB Samsung - Network Games
PS2 v10 exploit w/60GB Samsung - Network Games
PSP 1001 3.52M33 w/10GB total storage
NDS DSReal 4GB