The best replacement for paranoid android is cyanogenmod.

The best alternatives to paranoid android are rated as following:
★★★★★  cyanogenmod
★★★★  cyanogenmod 11
★★★★  aokp
★★★  omnirom
★★★  cm11
★★★  carbon rom
★★  cyanogenmod nexus 4
★★  slimbean
★★  cyanogenmod 10.1
★  slimkat
★  liquidsmooth
  resurrection remix
  cm10

Your alternative for paranoid android is not listed? Suggest!
Speaking about paranoid android, one probably shouldn't forget about halo.

Other search terms related to paranoid android and their ratings are:
★★★★★ halo
★★★★ franco kernel
You have in mind a companion for paranoid android and it is not yet here? Propose!



Google Trends

Scale is based on the average worldwide traffic of paranoid android in all years. Click on graph for more.
paranoid android
cyanogenmod
cyanogenmod 11