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new to droids

i just got a htc hero from sprint, i like the phone alot so far. i was reading up on it a little and saw that you could "root" the phone, is that pretty much the same thing as jailbreaking the phone like for the iphone and ipods? what are the advantages for rooting your phone? and does it effect the phone as far as speed, warrenty, and other things? please feel me in im new to these phones, thanks
 
The short answer is yes. You'll find all (or at least most of) your answers in the first sticky thread in this forum, where it explains and walks you through the processes of rooting, backing up, and flashing custom ROMs:
http://androidforums.com/all-things-root-sprint-hero/38911-guide-root-rom-faq-tutorial.html

Then go to the third sticky thread to learn about various customs ROMs available:
http://androidforums.com/all-things-root-sprint-hero/31394-latest-custom-roms.html

Here is linked list of current ROMs we've all been putting on our phones:
XDADeveloperWiki - CDMA Hero ROMs
 
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