Its my whole 3rd guide on this site, so bare with me.
Recently I got a Droid 3. It's a great phone, and for a few weeks it was stock. Being that I came from an OG Droid, without root and recovery I felt lost! So off I went.
Root has been covered ad nauseum, and you can use the thread here for info!
First you want to go to hashcode's site, and download SafeStrap 1.0 (version is 1.08 on install as of 12.16.11 for D3).
1. Make sure "allow 3rd party apps" is checked so you can sideload SafeStrap
2. Find the apk in your download folder.
3. Install the SafeStrap app.
4. Open the app from your app drawer.
5. Allow root access.
6. Select 'Install Recovery.' This should take a moment; when it completes, 'Recovery State' should show 'Installed.'
Now, you are ready to reboot into recovery.
1. Power the phone off and power it on.
2. You will come to a splash screen that states, 'press menu for recovery access.' You have 10 seconds, otherwise the phone boots normally.
3. Once you press the menu softkey, it will boot into ClockworkMod Recovery
4. From the main CWR menu, select backup and restore from the menu using volume up and down and power button to select.
5. Select backup.
You now have created a backup in CWR of your stock+root!
The backups you create in Safestrap are not compatible with D3Bootstrap.
Hints and tips:
If you are having trouble getting Safestrap to install, or trouble installing Recovery, open Superuser app and click update binary.
If you are having trouble getting Recovery installed, you may need to update BusyBox. You can do that with this app from the market.
fishacura - For creating the Droid3CWBootstrap guide here!