well for starters, your going to like that modchip, its great!
first of all, assuming that u get the flashbios screen, it gives u the option of flashing ur midchip by http, cd, and hdd. If your going to use a cd, use a cd-rw or a dvd (if u have a samsung dvd reader some cd-r's will work too, i find that memorex cd-rw's work on almost everything). I'll explain how to do it via http and give u a link to do it for cd (you prolly dont have bios on your harddrive seeing as how you just installed it).
For http, connect your xbox through your router then back over to your computer or just use a crossover cable from the xbox to the computer(or a link cable that u can buy for an xbox, both work). Then click http in the flash bios. Up in the address bar, type in the ip address your xbox will give you (mine was 192.168.1.103, urs might be as well). Then when it sayins pick your bios, select your bios (download from this website in the download section, make sure u use the one for x3 ce, although i dont know what will happen if u use other bios). Then upload it and it will start to install on the modchip and u will see it start installing.
BUT YOUR NOT DONT YET! Follow this tutorial in xbox-scene for getting
http://www.x-scene.com/articles/xbins.php . Then when ur in xbinx (after u follow that tutorial), go get a dashboard and send it over to your c drive (you do this by using FLASH FXP and typing in your ip address again and your user name and logon, which you will find in your x live config screen somewhere). If you have x3 ce (like you should since ur in that forum), go to the dashboard boot order and move w/e dashboard u just downloaded and put that first on the list (you can have multiple dashboards and the convience of this order list is very nice to have).
There you go! Dink around a bit with the dashboard but dont delete anything or try to add more bios like i did and mess up my xecuter. enjoy man, happy modding!