Sounds like a great idea but I cannot get it to work... Every time I try to flash the phone it fails.
The bootloader is fine and RSDLite can recognize my phone and I can flash with Update3 but the start button is grayed when I try to flash with the Update file.
I had this same issue. I was able to at least get my droid mounted so I could wipe the sd card, and get it back to stock with RSD lite, even though it was saying it had failed. I did get a new unit, and then deleted all my files from my laptop, the rsd, the drivers, everything. I then started over fresh, but I made sure to get the right drivers. I think that is very important. (32 vs 64). After that everything worked seemlesly and was able to get to a rooted rom on a fresh 2.1. Here is the instructions I followed. Hope this helps.