Basically, you unshackle it from carrier restrictions and get to treat it just like your computer as far as what you want to do with it.
Things I do with mine are take screenshots, block ads, and tether sometimes
If you are looking to root I highly recommend z4root. But fist I would gain some more knowledge about rooting. If not done properly you can do some damage to your new toy.
Thanks folks .
I take it that its a prog (or app?) That allows me access to customize core programing. Is this right? If so what is a good website that will outline the basics so that a newbie can understand it.