Root + MadMac's lokified TWRP
I think rooting the OGP is a must, just to remove apps that are problematic and add some xposed modules for security (xprivacy). . . but then again I'm anal that way — hate having a bunch of unused apps hiding on my system and no control over app permissions. Not to mention being able to make full img backups.
Once you root the device, you will need FreeGee installed. Then use FreeGee to install CWM and backup your EFS.
At that point, boot into recovery from FreeGee — very important not to boot into recovery from the device being off as I, and many others, have ended up in recovery boot loops with CWM doing that.
Once in CWM from FreeGee, install madmac's lokified twrp. [here]
madmac's lokified twrp has no problems getting out of recovery from a cold hard boot into recovery.
I'm sticking with stock at this point due to google killing text reflow/wrapping in 4.4, and the fact that stock has incredible battery life especially in standby doesn't hurt at all.
However, if you want to jump to 4.4 I recommend BeanStalk ROM for this device. Overall it performed the best for me on my E980. Great ROM and I would have stayed on it if it were not for text reflow not working in my browser of choice — actually don't think any had it other than Opera and it lacks in other areas, thus not worth it for me since 4.4 via LG is coming.
Now, if you are the sort that does stay with stock and doesn't need long term root, it's easy to unroot the device right inside SuperSU. However, I found that I needed to unroot the device twice to remove the two recovery apps I installed — CWM & TWRP — thus I unrooted, then rerooted, and unrooted a second time. I did that as an experiment to see what recovery was left after unrooting, and only the last recovery was removed with unroot.