As long as you wipe, you can.
There really isn't that much difference than a nandroid backup and an update.zip, other than a nandroid can include more partitions.
I'd go with Droid Mod. Simply because it has what you want and it is one of the most stable (if not the most). And it's ease of installation can't be beat.
I said it was ONE of the most stable. Though some people would argue that it is the most stable. For the OP he sounds new to rooting. For the ease of installation Droid mod gives you the stability can't be beat. Not saying BB isn't stable but its a little more involved n installation.
How involved an installation is has absolutely nothing to do with its stability. You seem to be arguing for ease of installation, which I would agree. I would also agree that DM is a pretty easy way to install something you know nothing about, making it difficult to troubleshoot issues.
But as far as stability goes, it has absolutely nothing to do with stability.
All I was meaning was that Droid mod has everything he wants, is incredibly easy to get going, and as a plus its one of the more stable ROMs.
Just saying, all 3 of those have nothing to do with the Rom
2.) Kernal again, and an app
3.) Your contacts are synced from your gmail, no need for a ROM
1.) Google dmupater, the first link will give you a link to the download somewhere. Install it with Astro File Manager
2.) Use it, follow instructions until you get rooted and it installs the recovery
3.) Follow instructions for Bugless Beast 0.9
4.) Dowload a kernal from ChevyNo1's kernel thread, whatever is stable and fast.
5.) Download the lastest version from http://code.google.com/p/android-wif...downloads/list, install with Astro