So I've had a few people asking how I did this so I decided to make a little tutorial.
This will NOT change the color of your status bar. This will only add a transparent background to the drop down bar and place the Droid on the bottom right corner.
***Make sure USB Debugging is checked under Settings>Application>Development***
Here's how it's done:
1. Download & install Stericson's NinjaMorph from the Market
2. Place your desired Droid image on your SDcard and rename it to status_bar_background.png (doesn't matter where you put it)
3. Launch NinjaMorph and click tap on New Project
4. Go to /system/framework/framework-res.apk (Files will get extracted and a backup is created automatically)
5. Go into /res/drawable-hdpi and find status_bar_background.png
6. Tap on the file and it will now ask you to find the image you want to replace it with
7. Find the file you placed on your SDcard and tap on it
8. You will get a warning asking if you're really sure you want to replace it (Tap Yes)
9. Tap on the blue arrow on the bottom right corner
10. Tap on Finish Project
11. Tap on framework-resapk (NinjaMorph will now package/create the apk)
12. You will get a warning asking if you're sure you want to overwrite the apk (Tap Yes)
13. You will now get a warning asking if you want to zipalign (I chose no)
14. Tap ok on the next warning
15. Choose if you want to delete the project
Your phone should now reboot automatically and you should have your new Droid on your drop down notification bar that looks like this.
Now choose your flavor: