Well I'm also kind of a noob, but ill try to help out. First off rooting, there is a lot of different things you can do once you have rooted your phone, for example if you want you can get FM radio on your Droid 4 (it's actually FM, not the internet streaming stuff) just search for Spirit FM on the app store, another thing you can do is change the speed of the CPU to save battery or Overclock your CPU to increase performance (I won't go into detail on how to that right now, but if you want to know just ask). Now for safestrap, I'm really new to safestrap but from what I can tell it allows you to dual boot your Droid 4, so if you would like to try one of the new Jelly Bean ROMs that are around for the Droid 4 you can. Keep in mind that the ROMs do tend to have some problems and there are certain things you can't do / or won't work. As for titanium backup, I'm not that sure, I don't use it but I think you can use it to freeze bloatware apps (which are the ones that Verizon pre-installs onto your phone and you can't normally get rid of them unless you root your phone and freeze them). However you should be careful with freezeing apps, because if you don't unfreeze them before an update (for example when the Droid 4 gets updated to Jelly Bean) the update might fail.
Well I hope that this post has helped somewhat, if you need some more info feel free to ask.
NOTE: This isn't a comprehensive list of stuff you can do there is a lot of other stuff, but I can't really fit all of it into here. Also doing some of these things does have the chance of messing up your phone, so please be sure you know what you are doing before preceding.
