Just an experience report. I did install drellisdee's update on my phone, which was running rooted stock ROM but with custom recovery. Results:
1. BE AWARE that drellisdee's ROM removes a lot of the built-in apps. It's pretty clearly stated in the original post, but I ignored it, and found myself without ThinkFree... which was a real pain. It turns out, as I realized later, that thinkfree is present on a directory created on the SD card by the update; you can just copy it back into the /system/app directory, and you're fine. But it was a real shocker at first.
2. I'm normally pretty skeptical of stuff like this, but I'll add my report to the list of people saying the phone feel quicker. Whether that has to do with the new update, or is a side effect of have cleared the cache and just put in stuff I use more... I can't say.
3. Unfortunately, I just checked battery stats, and I do still have this 50% "time without a signal" issue. So while changes were definitely made to the radio, it did NOT correct the 50% bug.
4. Again, the software version number still says V8, despite the fact that the update definitely installed. That's too bad. Just feels messy to me, and I'll probably poke around for ways to fix that.
I did *not* wipe data before or after install as the instructions said to; but I did wipe cache before and after, and Dalvik cache before. So far, no issues... I decided it was worth the risk because, frankly, it's a tad ludicrous to ask people to wipe out data and reinstall their apps every time a new phone software update comes out.