I'm unlocked and rooted. What happens if I flash the latest 4.0.4 update? What's different from the version I have now? Do it improve battery and radios?
the update (firmware), improves overall performance, addresses the Android OS bug, and some other tweaks.
There are 4.0.4 radios that increase signal strength and hold a signal better.
Lol. I flashed 4.0.4 a long time ago. And yes, you will lose root but you can just flash the su.zip and get it back. Or you can flash a rooted 4.0.4 ROM after.
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Don't be scared, adb is your friend.