I did buy Titanium Backup since Matth3w recommended using it but I havent really used it since. I mainly use nandroid advanced backup and restore although it is pretty annoying to keep restoring my home screen setup since I have 7 screens. I might actually go back to TB in the future.
I'm using the latest CyanogenMod (just updated from 126.96.36.199 to 188.8.131.52 about a half hour ago) and had no problem setting it up. Its extremely fast but the theme is lacking.