Kinda what I was thinking, update all automatically......What will "root" do for the phone - advantage? I will pay someone to do it if I can still do whatever I want but be able to control what apps are on it.
Basically, it gives you access to the system files that you normally don't have access to. With that access, there are lots of things you can do (with the right apps/changes):
Change the look of...pretty much anything
Back up and restore apps and data (which can be pretty handy)
Wifi tether
Change the entire operating system
Block advertisements in apps
Overclock the processor for speed or underclock for battery life
Remove system apps (including the stuff that Verizon puts on the phone)