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in a lot of cases attempting an over the air update while runing a custom mod can be dangerous to your device.
Most Custom Roms are faster, much more light weight and best part are available anytime you want to update or revert back to a stock ROM
once VM updates to 2.3, there will be a lot of custom ROM options, and probably with less bugs than AOSP (even though it's a pretty nice ROM). i'd recommend ignoring the update and then browsing the forums about 2-4 weeks after.
If you are running a custom ROM, who cares about internal memory? Use one of the 2sd methods, and you will never have an issue with internal memory running out. I run aospCM7 with 189 apps installed, and I still have 104MB free on internal.