Upside: No additional charges or features required (at least until Verizon figures it out and locks it down.) Also, I am wondering if maybe this allows you to connect to the internet on your laptop if the phone is not in a 3G signal area. (I will test it out this weekend and let you know.)
Downside: Bluetooth is much slower than WiFi Hotspot mode.
back to my post about mac. I restarted the computer and everything worked (thanks IZOD, even though your suggestion was re: pc). I'm writing this message using Yeste's (my droid x's name) bluetooth tethering. dancedroid Thanks for all you help guys!