Please refer to the countless "Top" and "Must Have" apps threads in this very subform. I'd strongly suggest just reading this subforum. What you're asking for is a very subjective matter.
SetCPU, (Or use cyanogenmod settings to overclock)
Swapper2 (Use SD CARD as RAM)
MyBackup Root (Backs up apps AND contacts)
Widget Locker (Custom Lockscreen w/themes)
Ad Free (stops ads from popping up)
ADWLauncher EX
ADW Notifier
That's about all I can think of for now. If I think of more I'll edit my post.
Must have root apps:
Ad free
Auto memory manager
Cachemate
Any overclock app (Droid overclock / Set cpu / quick clock, but only one! Droid overclock is my preference)
Root explorer
Titanium Backup
Script manager (for experienced linux users)
Terminal Emulator
Orbot
Thanks for the app advice... i wish i could add froyo 2.2 to my phone but im afraid ill mess up my phone doing it and i cant find a way that will work anymore...