I think as of right now there is no good reason to root the S5....none of the current ROMs are worth breaking the warranty for and we aren't lagging behind the android OS versions that we want urgently catch up to. My advice would be to wait until more advanced rooting methods come around that bypass the knox tripping or until CM, AOKP, AOSP etc ROMS start rolling out or if we get a couple of Android OS versions behind, whichever comes first
Touchwiz has this stigma since it actually was bad on s1. Since then it's been getting better and better and on the s5 it's actually very good.
Samsung based rom's keep all the Sammy functionality and can be just as customisable as cm etc without breaking integral things like camera etc. To say they are not worthy of rooting for is simply ludicrous imo
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