Incredible Bootloop/Cycle... Major Problem

I wish I could explain this with greater detail than I am about to but I just can't find the words to do without being a dissertation. I got a Droid Incredible from a friend who didn't want it anymore and said as long as it's used for development I can have for free. The only catch is that it bootloops in the strangest way possible.

Sometimes the phone will boot normally into Android. When the battery is below half charge it will boot to the "HTC Incredible" and then bootloop from there repeatedly turning on and off on that screen. Other times the phone will boot all the way to the Droid Eye, freeze, and bootloop that segment for awhile. The most annoying is when the phone actually boots into Android and shuts off randomly.

Somethings that I noticed about these occurrences that might help:

The first two bootloop sequences that I mentioned above will happen more likely with the battery drained below half.

When the phone randomly shuts off when running Android, it's always when I'm trying to do something on it that requires root permissions, takes up a considerable amount of processing power (Titanium Backup backing up, freezing apps, uninstalling bloatware apps etc) or some games (Minecraft and even Solitare causes it) or when I'm trying to use unrEVOked 3.22 or some other tool to modify the system.

Lastly, the phone does have root. While trying to attain root the phone bootlooped a few times while restarting in the process. I hope that it couldn't have damaged the files in the /system partition.

Can anyone help before I break the phone in half?

My daughter's Inc is having the exact same problem. It's about 18 months old, has never been dropped (as far as I know). It just keeps rebooting...

I've been able to get into HBOOT and have tried CLEAR STORAGE and also FACTORY RESET. It then boots into Android and when you begin to re-activate the phone it will reboot again.

Is there any way to somehow reload the firmware from scratch ? It has never been rooted - completely stock.

I notice that if I don't try and do anything with the phone (just turn off the screen and turn it back on), it doesn't appear to reboot...

When I was rooting my phone it rebooted right in the middle of the proccess and did the bootloop thing so I had to remove the cord and battery. The root might not have taken, but I can use Titanium Backup perfectly. I've tried everything from installing older versions of android using the PM501.zip or whatever the file name is. That didn't do anything either. I think I'm just going to have to live with it. If I were to bring it to Verizon, would they replace it for free or would I have to remove all traces of the root?