getting started with my old PW1 (5.6.1.1)

Hi!

I just joined up, because I switched my e-reading workflow with an iPad to start weaning myself of Amazon reliance more. Since I now have a PaperWhite 1 hanging around unused I thought I'd check into jailbreak options and trade-offs. Note that this device has never been jailbroken.

My Kindle's vitals:

S/N: B024 1501 2394 0QA8
Firmware: 5.6.1.1 (2689890035)

I've been reading a number of related forum articles, and thought I'd take a stab at checking what I think I've learned to see if I'm thinking about it correctly.

Here goes (just seeking confirmation or correction):

1) Need to downgrade first, e.g. to 5.3.9 (per PW1 downgrade thread), because PW1 5.6.1.1 firmware doesn't like jailbreaks?

2) Once downgraded, follow jailbreak instructions on the sticky post?

3) Once jailbroken, keep Wi-Fi off to avoid automatic upgrades?

4) Need to sideload and de-DRM ebooks in order to read things like Overdrive library books, etc.?

5) What else might I miss?

Do I have the general idea?

I'm a developer, know Calibre and Python, and don't fear running scripts, etc., but I don't want to get "cocky". ;)

Thanks!