stevenz: Theres also a VillainROM release already at http://www.villainrom.co.uk/forum/content.php/313-ROM-VillainROM-2.0-for-Samsung-Galaxy-S-II-(2.3.4-time)
Its just a flash for the /system partition so leaves existing modem, kernel and bootloader intact.
I saw that and was tempted, but there were a couple of things that put me off:
(1) Not including the kernel in the flash. The big reason for wanting 2.3.4 is for the battery usage fix, and the kernel is key to this.
(2) Flashing to any other ROM (stock ROMs in particular) after using VillainROM might require a wipe of your user data, otherwise you might get a boot loop. No ROM should be futzing around with your data to the point where it causes major issues with a stock ROM.
I think I'll stick to stock for now. Hell, I might even look at making my own ROM, assuming I get the time to work on it.