Its pretty easy to root the thing. Here is what i would do:

Root
Install twrp 2.7 recovery
make a backup so you have it exactly like it came out of the box other than root.

Then you have about 3 choices for roms

Mahdi-Rom 2.5 4.4
LRS G Pad][v1.2.0 4.2.2 +BOB kernel
CYANOGENMOD 11 LINARO/SABERMOD 4.4

Ive used all 3 and settled on LINARO/SABERMOD. It seemed the easiest to setup, didnt have a huge amount of stuff installed (i cant use/stand pie controls) and it was easy to setup for tap on/off.