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@Fox
This being the second phone I've rooted and installed Cyanogenmod on I'm really not sure that rooting and custom roms are a pain: it really is as easy as following simple instructions. I've had 4.1.2 since I installed Cyanogenmod, which is before the Nexus got it.
That said, it is a risk, undoubtably. And Google are by all accounts about to launch the LG Nexus 4 on 29th October...