The issue with a custom ROM is it would be dangerous. Here are the issues:
First there is no known button press combination to force the phone to boot into recovery cold. You can only boot into recovery by sending the reboot recovery command from the terminal emulator.
Second when the phone is booted into recovery there is no "enter" key to perform functions.
If there were any problems with the ROM or the phone we would not be able to reboot to recovery and restore from a nandroid or backup. One little slip and the phone would be a paperweight.
Since this is not a real popular phone there really isn't much interest from the high profile devolpers to develop workarounds for these issues. Personally I am quite satisfied with the phone as is, but it would be cool to run a cyanogen mod on the phone because I like how configurable that is.