Great guide, thanks! I followed instructions and thought all went well, but something isn't right. I'm using ROM Manager and paritioned the SD card as instructed. When the phone rebooted, the Velocity (I just flashed v0.3 today) logo came up is now blinking every 5 seconds or so. Phone isn't booting completely.
Not sure what happened exactly, but am wondering what a next step would be.
EDIT: Didn't work right, but I'm doing a recovery now and will try again! Sorry about the post.