So for any other n00bs, this is some of the info I've setup on mine.
This is a must, the z4root (1.3 version) app will take care of your permanent rooting needs. Be sure to leave the "USB Debugging mode" on for ever.
Love it, keep it, I don't think there's any performance hit with it running. But if you don't like it, don't go to the lengths of removing all the apk's manually - just don't register/sign-up when the phone is very first turned on (or if the phone is set-up, then you can backup with TB and factory reset the data, but don't set-up Blur).
Overclocking and undervolting (ie. Battery!)
800MHz doesn't *quite* cut it, the phone is a little laggy and unresponsive. The app to get first is SetVSEL (on Android market), I've got mine setup and stable with:
300MHz / 26
600MHz / 34
1100MHz / 58
And a priority of 60%. Then enable the setting to limit to VSEL1 when the screen is off. A priority any higher than 60% makes the phone really lag when trying to turn the screen back on/answer calls etc. from an idle state.
This took the phone immediately from a 5hr maximum battery life on idle to over 13 hours (still not impressive, but miles better!).
Then upgrade the ROM to the JIT enabled version http://forum.xda-developers.com/showthread.php?t=893291
Titanium backup pro - worth it, get scheduled backups set up and sign up for a free dropbox account (link - http db.tt/fxOD4Zf) for online backup storage.
Must buy/install apps
1 VPN (VPN password saving/connect tool)
Angry Birds (Game)
Astro (File manager)
ConnectBot (SSH client)
DropBox (Online storage) link - http db.tt/fxOD4Zf
Last.fm (Music streaming)
Layar (Augmented reality app)
PocketCloud (MSTSC/RDP client)
Quadrant (Benchmarking tool)
SetCPU (although not neccessary with SetVSEL, but it does offer a little more fine-tuning)
ShopSavvy (Barcode scanner / price comparison tool)
Stability Tester (Good for making sure VSEL voltages are stable)
System Monitor (Fairly basic overview of system status)
System Recovery (not available on Android Market) LINK http goo.gl/SSMpE
Titanium Backup Pro
Voice Caller ID
z4root - LINK http goo.gl/CuRgz
Disable live wallpaper
Disable smart screen brightness and manually reduce
Lower CPU voltage
Set low CPU speed when screen is off
Enable data saving
Disable GPS when not in use