I'll give you some back story as to why I just installed a custom rom.
I've had my Inc since it came out in April. I started with 2.1 and made the OTA upgrade to 2.2. Wow, I thought, this is awesome, but I would like to do more to my phone (wireless tether, backups, etc)- so I wanted for unrevoked 3.whatever to get root control. I'm very pleased at the extra 4 or so hours of battery life, wireless tethering when I'm out camping, and all-around feeling that I'm now in control of my phone.
Flash to Nov 2010. A new OTA that is supposed to fix the slow charge times and some other things. Gosh-darnit, I wish I could get that update, but I don't feel like wiping back to 2.2 stock (unrooted) or do the RUU and then restore apps and user data.
Solution: Install Virtuous. Some of my friends recommended it because of the minimal UI improvements (so far, all I've seen is a new battery meter, but you can see more
here)
It seems that the Virtuous philosophy is to not require the wipe every time a new update is available or require a crazy root/unroot strategy. Simply download the latest update and use ROM manager to do the work.
Please note that I'm not affiliated with Virtuous at all-- and because of that, I might be completely off-base with what I've said. Just read their docs and see for yourself.
And as for the above commenter.. If you're going to take a minute to comment, but constructive. Getting into rooting and roms and all is daunting because of the people who a) give fragments of info and not the whole picture and b) tell people if they don't know what they're doing, don't do it. People want to learn, that's why they're asking. Rooting/romming isn't some privilege that is granted to a select few by only those who have done it already.
As for the OP, best of luck