Options for Verizon users who downloaded the recent OTA update?

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Apr 21, 2009
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Hey there. I just bought a used S3 which, sadly, has the most recent OTA update from a few weeks ago. I have a few questions:

1. Is it true that I am limited to TouchWiz ROMs using safestrap? I have read this elsewhere...
2. How does safestrap differ from other bootloader options? Will I notice decreased performance over the standard rooting options? I have read that I would essentially be booting into a ROM from a partition... Does that mean I'd been into my Samsung ROM, and then manually boot into a partition?
3. What are my options for TouchWiz ROMs? I've only used CyanogenMod ROMs on past Android devices.

Any insight would be super awesome. Thanks!