General New xperia PLAYer. . . .noob here :D

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http://androidforums.com – hello i just got my new Xperia Play (orange) today yay yay, . . . :D some people nagg that this phone lags and slow, but been testing this thing for 5hrs. str8, and smooth transitions and nice response. but im a total noob with android so guys i need help im all up for modding but here are my concerns: (i searched the net but i don't get much of it, so pls. let your answers be a, . . . . . Android for Noobs) 1. when rooted can i go back to my ORIGINAL O.S. (like it was brandnew)?? 2. when rooted can i "Still" get the Official update?? 3. oh and pls tell m (General)