So given all the new changes what should someone new to modding do?
I would like to mod my GTA V, I have modded it before. What do the changes like OpenIV getting banned mean for me? I am hoping to mostly add weapons, cars, and change the look of Franklin in SP.
This new situation means you'll be able to add all of that without issues. Not much has changed for the end user as far as I know. OpenIV might yell at you to unninstall it but you can still use it.
Unless Take-Two actively hunts down individuals who mod their game, which I highly doubt, you can mod SP without problems, provided you don't try and go Online with these modifications.