Originally Posted by ngr.hd
will I be able to do the above? I know I cannot go back to stock since images provided by Moto are carrier restricted and the carrier which I'll be using is not in their list.
You can unlock you bootloader through the Motorola website, which according to Motorola will invalidate your warranty, then you can flash whatever you like - custom recovery, cyanogenmod, etc.
Alternatively, if you just want the system update your carrier isn't providing, you can flash it yourself by downloading the stock firmware from the usual places (see the FAQs/stickies here), since the bootloader-locked versions will still let you flash motorola-signed images. In theory, you should then get OTAs from Motorola, since it'll be as if you bought a network-unlocked handset direct from the manufacturer.
You could always just dump all your partitions before attempting to update with a stock image, then the worst case scenario is you'd have to invalidate your warranty by unlocking the bootloader in order to stick your carrier's funky hacked firmware back on the device.
Who's your carrier?