Some threads here from users with Flashed Cards talk about corruption issues though, scary...
What about the Hackintosh issue? Also since my Mac is 2nd hand, do I register it somewhere? (For insurance etc)
If you buy the wrong card, absolutely. I bought the right one, identical in looks and memory size (2gb) to the mac edition card in every way bar the apple label. Made sure the seller had a returns option so I could test it. After flashing it is in essence a mac edition card now inside and out.
Hackintosh is another issue altogether, all you are doing is putting a mac EFI bios onto an identical reference design card.