Paranoid Android has been the most popular ROM for device tinkerers who want the look of Stock Android on their phones which is only found on the Moto as well as Pixel devices currently. As far as the ROM is concerned, the developers behind Paranoid Android recently released the ROM based on Android Nougat with the Android 7.1.2 Nougat version. Also, the ROM has received a new update which takes the version of Paranoid Android to v7.2.1. This update includes a bunch of bug fixes as well as includes some optimizations. Apart from that, the update also brings support for some devices.
The most interesting device that has now been officially supported is the Nexus 5. The Nexus 5 which was released four years ago has received the Paranoid Android version 7.2.1. This makes the Nexus 5 to run on Android 7.1.2 Nougat. Apart from that, the other devices that have been added to the list are the Sony Xperia X (suzu), and the Xperia X Compact (kugo). Apart from that, the build for the OnePlus One also known as Bacon is also live as the update for the device was earlier released but the build was pulled as the device encountered some bugs which were critical.
One thing to note here is the Paranoid Android 7.2.0 was earlier released by the team. Now, if you have already flashed the Paranoid Android version 7.2.0 then you will get an OTA with PA 7.2.1 on your device if any update has been released for your device. For other devices, you will have to manually flash the update ROM via team win recovery project popularly known as TWRP. Apart from that, the update will also bring the latest security patch update along with the ROM which is the July security patch released by Google in the starting of July along with the latest version of Android.