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No. Most people who root do so to remove bloatware and/or install a custom ROM. Rooting, and doing nothing past that, only gives you superuser access to the system, there are no other advantages that I know of beyond that.Will it make battery life better, phone faster etc if all I do is root?
No... its the tweaks that come after that make rooting worth while.. I had the same thought before taking the leap into rooting.... If you need any help rooting and with flashing roms and kernels visit the all things root subforum....
Then the first thing you need to do after rooting is make a nandroid backup before you do anything else. A nandroid backup is a complete snapshot of your phone system. You can restore a nandroid backup at any time to return your phone to the state it was in when you made the backup. A nandroid backup requires a recovery image (either ClockworkMod or Amon Ra) and a recovery image was installed when I used Unrevoked to perform the root process.I'm affraid I'll do it, won't be happy and can't get back to stock.
The biggest benefit is the ability to wifi tether.

I have to agree with this, making a nandroid backup can alleviate a lot of headache if something goes wrong later.IMHO - Rooting is worth doing just for the sake of making a nandroid backup of your phone system.
If you root and never install a custom rom or anything - at least make a nandroid backup. Also - copy your nandroid backup to your computer for safe keeping.
I actually had an app that I downloaded render my non rooted unmodified EVO useless to the point that it had to be replaced. The techs couldn't even get the phone to work with the factory resets or anything. They had to replace the phone.
If I had it rooted and did a backup beforehand I would have been able to fix it myself in a minute or two.
Jack
I have to agree with this, making a nandroid backup can alleviate a lot of headache if something goes wrong later.
But how much of the "going wrong" are things that would have honestly affected an unrooted phone? Nandroids are really beneficial when you start doing a lot of the tinkering that the typical root user does. I can't say that I would root solely for the purpose of making a nandroid backup.
I downloaded an app from the market that completely rendered my 3 week old un-rooted EVO useless. Nothing could fix it. Sprint had to overnight me a new phone. This was almost a year ago when they first started shipping.
Jack