TM - no worries, it's really easy. I was the same before I loaded it, and I learned the hard way how to root.
Download these files:
Multiupload.com - upload your files to multiple file hosting sites! (updated telus .sbf with vulnerable-recovery pre-loaded so you can root)
Flash this file with RSD lite and reboot.
http://00a5650.netsolhost.com/b/TelusStoneLiteV2.7z (new version of the TelusStoneLite which apparently has some fixes - updated today)
Multiupload.com - upload your files to multiple file hosting sites! (G.O.T's latest custom loader/rooter/overclocker/nandroid backup package)
-When you've downloaded the second file, rename it update.zip and copy it to the ROOT folder of your SD card.
-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)
Now that your files are in the right place, you can root, nandroid backup and flash the new ROM. ** I suggest backing up your contacts to a .vcf file on the sdcard through the contacts "options" menu (contacts are one of the main things you don't want to lose - everything else on the phone is either saved on the SD card or easily replaceable - like apps).
-Once done, power off the phone.
-Power up holding the Camera button and power - when you see the screen light and M logo, you can let go of the Power key but KEEP HOLDING the camera button until you see the "!" exclamation mark appear on your screen (you've almost rooted). You can now let go of the camera button.
-Press volume up and Camera buttons; root screen should now appear. WIth the D-pad, navigate down to "apply update.zip", and hit enter. The G.O.T. openrecovery loader should now run.. it will take 5 seconds to load.
Navigate into the Nandroid menu, and CREATE a nandroid backup at this stage (just in case - trust me, I didn't do this and almost bricked my phone. I nearly shit myself).
Once you've created a nandroid backup, RESTORE a nandroid backup, and select TelusStoneLite from the menu. (If you don't see it, it's because the folder is in the wrong place - skip to troubleshooting below)
The nandroid restore should load it, once loaded, select "reboot now" from the menu (nandroid or GOT main menu).
Be patient during the initial boot - this takes a while. I think mine sat on M logo for a good two minutes. Enjoy the new boot animation and super fast UI!! Reload all your apps, import your contacts, and have fun.
Oh, and be sure to check for updates... FYI there were two new updates since i last checked - I found out trying to find you the links to download!! (you have the most recent ones in this post).
Troubleshooting: If you couldn't load the TelusStone file in the nandroid menu, the directory was in the wrong place. When you create your own nandroid backup, take note of the file name, then navigate to find the directory on your SD card. Make sure the TelusStone directory is next to your backup directory - this will ensure you can see/load it in nandroid backup.
**The TelusStone update comes ALREADY OVERCLOCKED to 1000mhz... the voltage and clock speeds are pretty safe - if you read the dev's notes, he says he doesn't push his phone too hard b/c he relies on it for work. (I trust these words, and my phone runs fine). On heavy data usage, the phone runs a little hot, and battery seems to get sapped slightly faster than normal, but the extra speed is nice. There are notes on his page for reducing the clock speed if you're uncomfortable with 1000mhz, but it requires editing the core files of the .img (good luck with that, lol).
**DO NOT use the G.O.T overclock function in openrecovery. This is how I thought I bricked my phone - I applied a few of their tweaks, and got perpetually stuck on the M logo on boot (made a few threads about it here). I tried to reset the settings, reflash a new .sbf, multiple battery pulls - nothing worked. After I reset the settings a second time, I was able to boot thankfully.
Haven't confirmed this with any of the other 'tweaks' they include, though.
Hope this helps - i wouldn't have minded seeing a guide like this when I wanted to install, so I figured I'd pay it forward and contribute. =)
beflythis