Tried it again, this time with setCPU shut down, and I still get the HTC Sense Launcher FCing repeatedly. Don't know what the problem is. I guess I will have to do a wipe to make sure that something isn't bugging it up.
EDIT: Full wipe (cache/Delvik) and still the HTC Sense Launcher force closes on my phone repeatedly. Nandroid back to 3.0.1 and all is fine. I don't know. I guess I can't upgrade for some odd reason...