I am planning to root my DROID this weekend. What ROM do you guys think I should try out?
ALL of them.
Choosing a ROM is like choosing underwear. Everyone has a different opinion of what works and what doesn't. The reason there are so many options for ROMs is because everyone wants something a little different than everyone else. My advice is to pick one, try it out for a couple of days, then do a full backup and try another one. Try as many as you feel like flashing, then pick the one you like best.
After you have decided on a ROM, then start reading up about Kernels, addons, scripts, themes, etc.
And don't forget about the many different Launchers you can use as well... you may prefer the stock launcher on some ROMs, but you may not. Launchers are almost as common as the ROMs are right now... Helix, Helix2, ADW, LauncherPro, Clockwork, etc.
I went with Cyanogen for quite a while on ROMs, and I fell in love with Helix2 for the launcher features (Ill let you look it up yourself to see what I am talking about... don't want to spoil all the fun). I loved it, but then I got bored... as I always do. Froyo came out, so I started changing ROMs every day again. Unfortunately, the developer for Helix1/Helix2 is too busy with non-internet life to stay on top of the updates, so I am without my launcher.
I hate every other launcher currently available, and I keep going back and fourth on whether or not to revert to Cyanogen until the issue is fixed. (Cyanogen, by the way, builds from source. That means no CM froyo until source code hits AOSP.) Once Helix is fixed and there is a CM 6.0.x.x, I will be in 7th heaven again. Until I get bored a week later.