Hey guys! First post... :-[
But I'll get right to it. I'm pretty fascinated with phones and I'm still trying to learn all the basics. I don't know anything about roothing/hacking/jailbreaking except you can pretty much do what you want with the phone. I've been through most versions of android (2.2-4.0) and I'm currently and (im)patiently waiting my 4.1 upgrade for my Galaxy Nexus. But I know that I will eventually get bored with the new software.
What are some pros and cons of rooting my phone besides voiding the warranty? Will it affect my battery life and the performance of my phone overall? I'm probably not gonna do it until I get to know Jellybean (whenever it gets to me). Help me out guys!
I posted this for someone in another forum, but it might help you out. I've striked-out some things that don't apply to the GNex, and added some Nexus specific comments in italics.
Why would you want to root?
On of the biggest thing you can do with root is install custom operating systems (i.e. ROMS), so if your device isn't going to be officially updated to the latest version of android you can do it yourself. There are also ROMS that completely change the interface of your device, and give you lots of new features and customizations.
Also a lot of people root their phone to enable things like free wireless tethering (i.e. mobile hotspot) which allows you to connect your PC to the internet though your cell signal (which is a feature of Android but is usually disabled by the carriers).
Also rooting lets you uninstall "bloatware" which are the apps that your carrier puts on your phone that can't normally be uninstalled. Doesn't apply to the GNex since it's bloat free.
You can also do things to make your phone run faster, or to make the battery last longer (for example changing the clock speed of your processor).
Also a lot of people root their phone to install ad blocking apps, so when you're online you won't see any banner ads, popup etc.
Finally, there are lots of other apps that are root only. For example, screen capture/record, battery calibration, firewalls ... I'm sure there are a lot more.
Why would you not want to root?
With rooting you're hacking your device and run the risk of breaking it. You're also voiding your warrenty.
Some root methods are safer than others, so it something you have to research. For the GNex rooting is very straight forward, but if you're not careful, you can still cause problems, (although with the help of the people on these boards, it's usually fixable).
Also, maintaining a rooted phones takes more time. You won't be able to accepts OTA updates anymore, so you have to apply your own updates. Also custom ROMs are often buggy and less stable so you have to deal with more bugs and crashes, but this varies by device and ROM. Also custom ROMs tend to get updated a lot more than manufacuter ROMs, so again, you'll be spending time applying updates.
Finally, rooted phones are inherently less secure. Basically since you've already hacked your device open, it's easier for a malicious app or a hacker to do bad things.
In summary rooting can fun and can give you a lot more capability, but it can also be very complex, time consuming, and less secure. If you decide to root, make sure you do your research.