Another one that just dropped that you could try is ViperOne by Venom team, lots of people love it. I'm sticking with bonestock for the time being though, because I'm getting great battery life, which is a major priority for me.
Correct, now that you've got that flashed, you don't need to worry about it until a new update comes out. The rumrunner custom hboot is optional. It gives a full set if fastboot commands, and a few other things. I'm currently using it. Beware that its based off of the .15 hboot (not the newest) until he updates it. However I'm still using it with absolutely no issues. When/if beaups gets it updated, I'll do that.
As far as what hboot is, its pretty much the bootloader. Think of it like the BIOS on a PC.