Welcome on the ship, Azeem.
One thing about that grey/white/black hat hacking :
a white hat hacker can do what a black hat hacker can do, except that the white hacker chose for the mature side and is more useful to soceity.
Trust me, i know a few in real life.
The more high-tech is available to the masses, the more annoyance there is, since script kiddies "write" their troyan themselves these days with just a downloaded framework or kit, so, there are the zombies who do spam, the scriptkiddies who inject annoyance on the Net and the black-hat crackers who become more and more *real* criminals in the sense that they mean a real threat to entire soceities if not an entire nation.
In other words : breaking into a system and messing around with accounts was 'black-hat' yesterday but is 'juvenile' today.
Black-hat cracking is serious crime nowadays.
I am talking about computer-terrorism and amounts of money that the gross 8000 members of suck-o.com don't make in a year, you got the picture.
I recommend you the book "Crime and the Internet" (ISBN on demand) and it is really shocking stuff.
Worst case scenario intelligencies believe the "3rd World War" could be a computer-cracker's war (attempts of famous Israelian ckrackers on US military sattelites are already recorded, the amout of money involved was about $3,000,000,000 ... for one guy.
'nuff said,
sorry, i hat to vent that
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FrankB