This doesn't seem to be covered in the stickied thread. So I'll post a bit about it here! I just got this phone, and it being my first android device, I went about searching for all the neat things I could do with it. I had heard of rooting before, so I was curious to try it out. I eventually found a way to do it and it worked perfectly
Step 1: Download MotoChopper
and the generic android drivers
Step 2: Install the generic drivers and extract the Motochopper ZIP to a folder of your choice.
Step 3: Set the phone in USB Debugging mode: Settings > Developer Options > USB Debugging
Step 4: In the folder that your extracted MotoChopper to, run the start.bat file, press any key to continue when prompted and let it do its thing.
If all goes well it should say the root was successful and ask you to press any key to restart the phone.
Unrooting the phone:
As far as I know motochopper has no unrooting facility, however, I have discovered a method that lets you unroot the device safely.
First off download SuperOneClick from here: SuperOneClick - CNET Download.com
Then, open the application, and click 'Unroot' you should see a few messages in the log box, and then a pop-up message saying that the device is not rooted.
Hope this helps you all, good luck!