Posted this on the Rezound forum, but the ease of blocking callers works on the Incredible 4G as well.
If someone has called who you want to block, go to Call History and long press on the number.
A menu will pop up with an option to "block caller". Simple as that. Confirm
The next time a call from that number dials yours, they will go straight to your voicemail.
While in the Call History, poke around the menu and you will find how to see a list of all blocked callers.
You can also manually enter a number that you wish to block. And you can unblock anyone already on the list of blocked callers.
This is SO much better than using an app or paying VZW for unlimited blocking.
I don't think this will stop text messages from a blocked caller, but there is an app for that.