This has been eating into me all day so as soon as I got home this evening I went for it - and - yeh IT WORKED! No problems at all with the method as described and now I have a super fast and smooth Hero (amazing that the lag is TOTALLY software related)!
Thank you
mcmonkiez for the inspiration otherwise I would have chickened out! I can't see any further benefit from the forthcoming official update as this seems to have all that is promised (including java).
The only thing that is a slight problem with the new ROM is that when I add contacts to the favourite people widget, their photos won't show up - do you get this as well?
Otherwise I would encourage anyone to do this, especially on UK Orange as who knows when the update will come and you can enjoy the Hero now as it always should have been.

