I was wondering if anyone would be willing to share some opinions about why I might want to run a kernel other than the baked in one. I am looking for tangible reasons that I could verify if I ran the same kernel. Thanks!
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Different options that may not be present on their stock kernel. I haven't ran CM10's kernel, so I am going to just list some examples of what it could be lacking. If any of these matter to you that is a different story:
Overclocking and underclocking slots - There are kernels that ramp up to 1.8GHz (probably higher) and as low as 180MHz if your device can handle it, or if you were inclined to do so.
GPU options - Overclocking the GPU is possible too.
Governors - Either new governors or tweaked versions of old governors exist.
Schedulers - New or tweaked schedulers
Color calibration - I would assume CM10 does have this, but there are many options like say Trinity's contrast options which I would assume it is lacking.
Sound options - High performance sound and volume tweaks plus some others.
USB Fast charge - This allows your device to charge faster when connected to something like a USB port on a PC, but also can work on other places too. This does disable the ability for your device to communicate with the PC while on, but it is able to be toggled.
Smart Reflex - SR automatically undervolts your chipsets, making it unnecessary for you to do so manually.
Updates - Quite a few of the custom kernels are updated fairly regularly, almost daily. Adding features, fixing bugs, adding patches....etc
Battery life and performance- Theoretically some of these options can improve your battery life and performance. Different kernels and settings work a little differently for different setups and devices, so this would require experimentation to figure out which specific kernel and settings work best for you.
And probably many other things that I have neglected to mention.
For the most part though, you will probably be fine on stock. If you are happy, your device achieves what you need/want it to, while getting decent battery life and decent performance, then perhaps going to a custom kernel isn't necessary.