Curious on ROM/Kernel difference...

[Guest silicondrifter82]

I'm new here and new to Android as well. I am curious about rooting phones and installing custom ROMs/Kernels to, in the hope of, better improve an already amazing phone. So, my questions is, with all the difference is the custom mods out there, what does Paul's package do exactly in comparison to say Cyanogen's? Speaking in terms of performance, battery life, balance, etc.... Reason I chose these 2 for reference is because they seem to be the 2 most popular mods.

Thanks for your time.