Well, here goes, what do you mean by generic apps aka AOSP?
Think I 'm going to give Liberty 1.0 a shot tomorrow. Do you know if the reboot problems every got fixed?
You know what generic means.... generic breakfast cereal doesn't have the prize and the game on the back of the box.
AOSP= Android Open Source Project. AOSP dialer might not have Motorola-specific tweaks like noise-cancelling, in exchange for a slight increase in speed. Camera might be missing similar features, etc.
Liberty, Fission are AOSP with very little Blur. Apex, which most of us recommend for a first rom, is AOSP, but you can change common apps to blur version if you don't like.
Bear in mind, most roms require you to format data, which means you'll lose all your tweaks, high scores, settings so you should research your rom before jumping in willy nilly. You should have a backup program like Titanium installed with a first backup b/c you might load a new rom and not have any contacts and apps that aren't available on market (old or banned), won't be available. (I have many of those.)
As always, create a backup in recovery so if you decide your new rom is unstable, too different or just not you, you can come back to something familiar and already set up. I have a backup of nearly every rom I've tried so if a new version comes out, I can jump in easily.
This is what my backups looked like in Rom Manager. There are more than what fits the screen: