Upgrading Mod Chips in Xbox v1.1

[rgoudie]

I have a modded xbox with a very old version of the xecuter chip.
(not sure which version). This chip was soldered in with wires and
appears to be a bit of a hack job.

I was wondering if it is possible to remove this chip install a newer
version without messing up all of the games/emulators I currently
have installed on the xbox HDD.

Any info would help.