Really? The instructions are pretty clear to flash the ROM first.
But, I'm on the latest OTA, so would I be safe?
I think it might be safer to just use recovery. So I flash the ROM in the same way you said I would flash the radio updates, correct?
The ROM itself won't flash any new data to the radio so it should be OK doing it first but those directions are probably there for a reason and I've only ever flashed it using ROM manager and the way I described earlier.
Go for the recovery route though, it's geek cooler .