JErome is a fine place to visit -- small winding streets clinging to the side of a mountain, basically overlooking the old sites of copper mines which have since healed up. The views toward Sedona are of amazing bluffs of reddish rock far across the plateau that forms the basin below the mountian. It is definitely worth visiting.
As I recall both Beeline and Payson are small towns south of the Verde Valley, more toward PHX, while COttonwood is right in the Verde Valley and Jerome a bit north and uphill from there, toward Flagstaff.
While you are in the area, I urge going to Sedona to admire sopme of the amazing rock views and the Oak Creek Canyon.