Thanks, I avoided rooting because I didn't want to spend the time and take the risk, but given the amount of frustration the it's given me I should have done it ages ago. If I wasn't about to receive a Nexus 5 I would definitely try this.
I had to bite the bullet on a Galaxy S a couple of years ago due to poor performance but it was totally worth it. Running a 10.1 or 10.2 version of cyanogenmod is very snappy, although there are limitations (e.g. storage space on /datadata) due to the age of the hardware.