So I know there's been discussion how to tether without being taken to the signup page but the app opengarden tether works quite well and is essentially a rebranded version of wireless tether. I highly reccomend it!
It does work straight out of market if you are running CM7, but for standard rooted gingerbread you need to do the radio hack. But after doing the radio hack, standard wireless tether also works. I have SBF'd 5 times experimenting with this.