Got my new Incredible 2 today.
With VZ Navigator and Google Maps, the phone seems confused about north vs. south - if I'm facing south, the little arrow representing me faces north, and vice-versa. This problem doesn't occur with east/west which is always OK.
A likely related problem exists with Google Sky Map - if I pan left/right, the map pans the reverse direction of what's expected, but panning up/down is OK.
Oddly, if I run a compass app, it works fine no matter which direction I'm facing.
I called Verizon about this and they couldn't help, the rep said he didn't have an Incredible 2 to try out, so he would research this and get back to me.
The phone's build number in software info is 1.34.605.4 CL341571 release-keys
P.S. I did re-calibrate the compass using the compass app.