Root, probably but you can re-root it using this script from this thread or one of the other ICS root scripts if this doesn't work. CM9? Yes too. You won't be able to run the Gingerbread version of CM9 on ICS but if you'll be patient there will be a CM9 version for ICS out soon. I imagine the authors are working madly to update it as we speak. CM9 won't run because of the differences between the ICS and GB systems. ICS is a major update to the Operating System, not just a minor bug fix or app install. It basically reinstalls the entire OS. It installs a new kernel, a new C Library version which effects most of the system utilities and probably a whole bunch of updated, recompiled Operating System parts. They apparently also removed BLUR as a desktop. It also includes a new WebTop version and a bunch of different bloatware/adware. And, it's not verizon that's doing the update, it's Motorola aka MotoVerizon.