Device(s): The Droid Bionic......
OG Droid - rooted,
Kindle Fire
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Rooting allows you greater access and control of your phone. You can delete any bloatware and more importantly install Custom ROMs and kernels. The custom ROM allow you greater customization of your phone and your can often overclock you chip to make it faster.
Rooting simply gives you more control though it also voids your warranty (something you should know before choosing to do it).