That didn't quite go as smoothly as expected!
There is an official ClockworkMod recovery ROM for the Nexus 4 and that's what I used on my Nexus 7, so I thought I'd go that route.
Just my opinion, but I don't really see any advantage to ROMing a new Nexus phone. I'm curious why you're doing that. Do you just like CM a lot? Nothing wrong with that, I'm just interested.
Rooting, on the other hand, always has advantages.
I was installing CWM into the flash so that root could be redone without the need for access to a computer, so for example after a ota update.
It's the method I used on my nexus 7. I have no intention to use anything other than the stock android rom!
I assumed everybody rooted android devices this wasn't until after it all went wrong that I realised that they didn't and that root can be done by booting an image while connected to a computer.
I'm new to android, be gentle!