Activated HTC Thunderbolt now what

Apr 23, 2013
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My Iphone went belly up so I was given an HTC Thunderbolt from a friend of mine. It is activated with the latest 7.02.605.10.710RD software. First it is very slow, and laggy as i assume a single core snapdragon will do that. 2) With my Jailbroken Iphone I had access to some really descent hacks (pandora skip, no ads) etc. I assume the Android world this is considered a root and custom ROM? What is the best choice for this phone with regard to rooting and RPM/Hacking? Seems everytime something that looks good for this phone I see replies following it that says it breaks more than it helps. I'm just trying to find which directions work the best or if it is best to just leave it as is? Everytime is goes to sleep it comes back saying it isn't activated but once I unlock it, it's fine.
Thanks for your help