That's the same phone I have now. VM One V is a PrimoC/CDMA phone, do not use anythng for the PrimoU/GSM Europe/Asia version. First,
unlock your bootloader and root, then flash the recovery, there have been a few issues with Clockworkmod, but
TWRP has worked 100% so far. Make a backup using TWRP, then flash a Kernel, right now you have your choice of the
JMZ or
Sick for ICS, and JMZ has a version for JB. Both are stable and allow your choice of governors and overclocking, mine is stable at 1.5GHz, but I've backed it off one step to 1.4GHz.There are people that have it running at 1.7GHz, but IMO that's pushing it a bit too much.
There are already a couple roms available, you can get full HTC Sense 4 or no Sense, the version that comes with our phone is a crippled Sense 4. I've already tried CM10 (based on Jelly Bean), and it's fast and stable, the only issue that needs to be worked out yet is the backlight won't turn off. As soon as that's fixed I'll be running CM10 full time.
Oh, and a 64GB class 10 SD card works in this phone, even though HTC only says 32GB. :)