I think that the HTC Incredible phones are coming from Verizon with some issue, due to a possible last minute test, and the only way to fix it back to the way it should have been is to do the hard reset. Probably better to just bite the bullet now.
You can get a list of the downloaded apps by going to the Settings|Applications|Manage Applications|Menu|Filter and then select downloaded
As for the settings, ... that is another thing. You may be able to get some of it back through the backup to Google. I am not sure about this one though since I typically will blow away everything from time to time and just redo everything.