FIXED the loading issue--now the update is worth it.
I had the same problems after loading Gingerbread described by everyone else: the "HTC" screen, then the "Loading" for about 10 seconds.
But my phone works fine now. Go to "Settings" then "Power." Uncheck the "Fast Boot" box, then re-start your phone. Everything starts working normally again! At least it did for me. I now receive the benefits of the update without any slow-down or having to root my phone. Life is good again!