As many of you know Verizon loves to put a death grip on its customers by routinely locking the bootloaders of the devices that it releases for no apparent reason. Of course the excuse is to protect their network. Arguments can be made for or against that point. Either way it does not change the fact that there is generally no development in the way of custom Roms and mods for phones with locked down bootloaders (unless you consider Motorola devices which seem to have a strong development community based on Kexec). Devices like the Galaxy S3 and Droid DNA were each released with locked down bootloaders which were quickly unlocked by a willing dev community. The Note 2 was released on Verizon a few weeks back and is still locked down tight. There has been a root method released, and there have been a few custom Roms that are Odin flashable, but still no custom recovery or full blown AOSP roms.
Developer Adam Outler has been working feverishly on an unlock method for the Note 2 and he has achieved unlocked status on his own personal Galaxy Note 2! This is pretty outstanding news however it appears that this method requires you to modify the hardware which will weed out most eager modders leaving only a small portion of folks willing and able to do such a thing. The method used by Adam Outler may require the installation of a mod chip. Some old OG Xbox modders may be familiar with this type of modding. You need a steady hand and a soldering iron. This mod is not fit for the masses, and Adam is still diving into the device to see if there are other solutions or other ways of making the current exploit (tricking the Note 2 into thinking its an S3 allowing for bootloader unlock) work.
Follow Adam Outler's Google+ for updates.