OK, having never used any of the master's ROMs nor his seemingly new apprentice, I have to ask a couple of things:
1) According to the instructions on the CM forum page, Koushik says to install ROM mgr and use it to install his ROM - but I read earlier in this thread that Fadelight just used the adb format commands for DATA / System / Cache and installed it as a normal update.ZIP - am I getting this correct?
Yes, you can do it his way and it should work fine. Personally I switched to Clockwork, but it really shouldn't matter which way you do it.
2) That Helix thing - it's included by default? Or is that a modification I have to make afterward?
If you mean the launcher with icon docks, then yes, it's included in the ROM by default.
3) Do I even need Clockwork, especially if I use the method Fadelight outlined?
Nope, not really. Just follow the ADB/SPRecovery instructions given.