Am going to root and install Paranoid Android ROM using the Nexus 4 toolkit.
Hopefully it won't be a painful process.
Shouldn't be, that said I would suggest that using adb and fastboot manually might actually be easier. Found that the toolkits did most of the work for you but when they failed, I just had to do things manually. Also found their instructions were a bit obscure. This said, you've probably done it now so no worries

I'm presuming that I'm not the only one who has found that over Wi-Fi notifications don't appear to come through frequently? Turning off Wi-Fi Optimisation doesn't sort the problem, so I think we have a bit of a bug here.