Hey beflythis - just wanted to thank you for this guide - it was very, very helpful. However in the course of following through your instructions there were a few things I noticed that might be helpful to clarify a bit, just from the perspective of someone relatively new to this whole process. I've noted these points below, in case someone else mind find them helpful as well. I should of course preface my notes below with a caution that they may be specific to the phone I was trying this on or my carrier or something else that is user specific...
-When you've downloaded the second file, rename it update.zip and copy it to the ROOT folder of your SD card.
As others noted above, this means the GOT Openrecovery file, which has the file name OR-GOTmod_v1.04a.zip. You should not rename this file - i.e. the one that you downloaded. What you should do is extract it, which should result in a file named update.zip plus a directory named OpenRecovery. It is these two things you should copy to the root folder of your SD card. If you just rename the original file you downloaded, you will get a "signature verification error", even if you have properly flashed to the SBF noted above, or for that matter any vulnerable SBF. So if you get that error, suggest you try double checking this first.
-Extract the TelusStoneLite file, and put it in the following directory from your root sd: /Openrecovery/nandroid/
(so the directory structure will look like this: "/openrecovery/nandroid/TelusStonelite" and all your .img files are inside the telus directory)
For whatever reason when I tried this the location of the directory turned out to be /nandroid/adbrecovery/. That's where the GOT Openrecovery put the nandroid backup I made before attempting to load up Fast & Lite. I just moved over the Fast & Lite directory there and it all worked like a charm.
-Press volume up and Camera buttons; root screen should now appear.
This drove me a bit nuts and I should caution that it might be particular to whatever model or firmware I had. In any event, what I found is that to do this, I had to press in a specific order - first volume up, hold down that, then the camera button. If I pressed the camera button first, or pressed both at the same time, or had continued to hold the camera button from when it was booting and then tried volume up, it would not work. You need to release both keys once you see the exclamation in the triangle, press and hold volume up, then press the camera button, to get the menu screen.
Thanks again beflythis - couldn't have done it without your help.