Root that is.
I used to have a Droid 1. That phone NEEDED to be rooted just to be useful. I had totally custom ROMs, an overclocked CPU, and WIFI tethering, and just about every other tweak available. I spent considerable time researching, testing ROMs, and dealing with FC loops debugging. But once stable, the phone was good.
Flash forward to now with my new Incredible running Froyo 2.2. It's very fast, LauncherPro themes it well enough, I've got WIFI tethering through another hack. It's a great phone.
I'm trying to come up with a compelling reason to bother rooting. Looking back at my old list of programs that required root, other than not being able to run Titanium to back everything up, the phone is doing pretty much anything I can think of.
Am I missing something?