Root Some ROM questions

EDIT: I didn't realize there was a subforum for this kind of thing, if a mod sees this and wants to move it I would be eternally grateful.

So I just ended up breaking my new phone and happened to have a Droid 3 laying around so it's getting activated for the time being and I was going to go ahead and root it and throw vanilla Android on it to hopefully bring it up to speed. Now I haven't messed around with this stuff in quite a while(last phone I did all that with was a Droid X) and I was wondering what the accepted most recent version you could go to on one of these is?

I know plenty of people run ICS on here, but is it still stable/usable to go newer than that? I'd just rather not spend the time trying all the combinations if there is a known point that gives a good balance... thanks a bunch!