I haven't got a link right handy to it, but Chief's guides have been awesomely helpful when I rooted mine! If I can find them, I'll link them, but they should be around the forums plenty here, if you find them first!
EDIT:
Here's a link to his guide for the new 4.2 system files and whatnot. I'm sure you'll find yourself looking at 4.2 ROMS anyway, so here's that one, while I look for the other!
https://docs.google.com/document/d/1nugdF8dCvmDxvDcuI2xV_fa8RXLXZdy00U5caIxPKYk/edit?pli=1
So, short version after you get set, here's the steps that I take to flash a new ROM each time (the abridged version):
1)Reboot into Recovery (which you'll have after you get TWRP installed), and backup the phone, just in case.
2)Download the new ROM and GAPPS if needed, to your phone.
3)Open Titanium Backup, and make a backup of your apps and stuff as outlined in the guide. Make an Update.zip from TiBu after that.
4)Reboot into recovery, and wipe the parts that need to be wiped per the guide (cache, etc).
5)Install the ROM and GAPPS zip files.
6)Reboot the phone, skip through the setup process as much as possible, don't put your account info in yet. Then reboot back to recovery and install the TiBu Update.zip file.
7)Reboot phone, open TiBu and follow the guide as to what to restore.
And finally.. ENJOY! Cause that's really all there is to it. I usually make a backup from my launcher and stuff so I don't have to redo that, but I usually only do that if I've changed stuff around. I find that every time I refresh my phone with an updated, or new ROM, it feels like a whole new phone, starting over. I have my info, and my Let's Golf guy never forgets what level he was on lol. But I get to start with new wallpapers and widgets if I want.
The only other tip I can give would be this: When reinstalling apps using TiBu, I usually look through the list, and look at things that I have to restore, versus things I can just redownload. For example, I have my Battle.net Authenticator on my phone. I always restore that, so I don't have to unlink and relink it to my account (or as I did in past, have to e-mail their support to have them remove it for me when I forgot and it wouldn't reload). Likewise with certain other apps that I have data saved for. But like Words with Friends, and FML, and silly things like that, I just redownload fresh from the Play Store after I'm set up. I do this only so I don't run the risk of weird glitches. Words stopped giving me notifications once, for example, after I restored it. I uninstalled, downloaded fresh, and it works fine. So I just do that for anything I can afford to, that doesn't have saved data alongside it.
Lastly, I can say that Wugs is an awesome toolkit, but I know some people (myself included) have had issues with the newer 4.2 ROMS with it. It's supposed to work, I know, but for some reason, it hated me. But the Guide that Chief has out, and using TWRP, has been flawless for me. ROMS now don't even need me to hook to the computer at all. The only time I do, is if I downloaded the ROM to the PC first, then I just copy it over to the phone memory. Everything else, is done from the phone itself. The latest JB Sourcery release, I did at work at my desk the other day while I was bored lol. The whole process for me, takes maybe 15 minutes, and most of that is just waiting on the backup, and reinstalling with TiBU (I use the free version, so I have to accept every individual app restoring, instead of a batch. But as I said, I like to redownload a lot of apps fresh anyway, so there's maybe 20ish or so that I do with TiBu, which doesn't take too long).
Read plenty, browse the threads of the ROMs you might be interested in, and go nuts! It's a whole new world when it comes to your phone!