Preperations

You need:

SD card, any speed should do - class 6 recommended.

HSPL 3 (http://forum.xda-developers.com/showpost...)

At least radio 2.08.50.05 (http://forum.xda-developers.com/showthre...)

An Android build (http://forum.xda-developers.com/forumdis...)

There are a number of builds to choose from. Personally I use Shu8i's Cyanogenmod Stock.

A kernel. Builds will come with a kernel, but it may not be the latest. The kernel is where all the Android developments are made. Newer ones mean a more functional Android OS. I recommend Hastarin's kernals (latest, as of the guides creation date: hastarin r8.1)