Just a couple of notes based on my experience...
I just rooted my wife's Incredible using the steps in the first post. Worked well, but there were a couple of things I thought might be useful for people new to the process. This was my first HTC root...I have rooted my Droid Charge and a Lenovo A1. Note: I stopped at the root access as all we needed was a few root-only apps (no custom roms, etc). After downloading the specified files...
2)root with unrevoked 3.22
-go to settings/applications and uncheck "fastboot". having this checked will prevent you from getting to hboot via power/vol down.
-open the recovery-clockwork-220.127.116.11-inc_PB31IMG download. extract it first if you need to. inside there is an image called "recovery-clockwork-18.104.22.168-inc". right click on this image,then click "copy". navigate to a directory you can easily find it,then right click in that directory,then "paste". alternatively,you can drag it from the extracted folder to a convienient spot(i personally like to drag files around,but its fine either way).
-use your md5 summer to verify the md5 of just the image,not the whole .zip. it should be: ea382ca5809cb872d0582aa22741d592"
**MD5summer didn't work for me, but md5sum off CNET worked fine**
**up until this point you can have your phone unplugged...you will need to put it in hboot and plug it in to install the drivers**
-install the drivers as described on unrevokeds page above.
-unplug your phone.
-extract the contents of the unrevoked 3.22 .zip. open the folder, right click on "reflash" and run as administrator if possible.
-click on "file" in the corner of the relfash window
-click custom recovery
-navigate to,and select your "recovery-clockwork-22.214.171.124-inc" image and select it. at the bottom of your reflash app window, it should now say "recovery:custom" and "waiting for device"
**I had to reboot to get out of hboot mode, then I made sure USB debugging was on and then plugged in to the PC via USB. From there unrevoked did its thing as advertised.**
-make sure usb debugging is checked ON in settings/applications/development.
-plug in your phone and place it in charge only mode. assuming you installed the drivers correctly,unrevoked 3.22 will start. let it do its thing. it will reboot a couple of times. when its finished,it may leave you on a blank screen. if this is the case,pull the battery and reboot.
**I ended up on the clockwork recovery screen when it was all done. You can choose options using the volume up/down key, but the power button does not select the option, you must use the trackpad button. I just scrolled down to reboot hit the trackpad and that was it.**
-you should now have the superuser app in your app drawer. if so,go to settings/applications/manage apps/superuser and clear data. test that superuser is working and granting permissions by downloading rom manager,and using it to flash the newest clockwork recovery. alternatively,download and run a "root checker" or any of your favorite "root only" apps and make sure they work."
Thanks to Scotty85 for pulling this all together (I also clicked thanks).