If there is anything that is a must have for the Droid, it's this forum. What valuable information I have found here, such as the one posted by mrschmitz. Thank you!
There's also a widget called "Screen Mode Widget" that creates a widget on your screen that allows you to easily choose 3 modes:
1) Sleep Auto: Device functions as normal
2) Awake Stay: Device won't lock but screen will turn off
3) Screen Stay: Device won't lock and screen will stay on
I haven't used it very long but so far it has worked just fine.