Can you still install the nightlies if you installed CM7.1?
I'm sure you could...just do a backup first. I keep the nightlies going myself and it's been a while since I've had to start over. Now that I said that I suppose I'm due...
For sure. Just do a back up and wipe system cache and boot and you should be good to go.
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Tapping screen as I talk to myself on my Bootstrapped Bionic