Galaxy Nexus Rooting Question

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http://forums.androidcentral.com – I am getting a Galaxy Nexus tomorrow in a trade. My S3 for a Galaxy Nexus 32GB plus $90 cash. It's the Verizon i515 model. I was thinking about rooting it when I got it. I also have some questions about it, though. 1) I heard from a friend that has the Galaxy Nexus Sprint model, and he said I have to unlock the phone before rooting it. Is this true? 2) What is the process to root the Galaxy Nexus? Is it easier than the GS3? I accidentally bricked my GS3 while trying to root it. 3) What are some advantages and disadvantages of rooting the Verizon Galaxy Nexus? 4) Do I still get the update (HowTos)