For those of you brave enough to try, here's what you need to do:
0) read the revolutionary documentation page here:
public:revolutionary [RootWiki]
1) you need to have USB debugging enabled on the phone: Settings > Applications > Development > USB debugging (check the checkbox)
2) you need to make sure you have the fastboot drivers installed for your phone. The revolutionary site links to it on their documentation page.
3) download revolutionary and extract everything in the .zip file into a temp folder anywhere you want. Plug in your phone to the PC via the usb cable. Note that the revolutionary website brings you to a page where you can generate a beta key. You'll use this a bit later.
4) make sure windows isn't complaining about drivers at this point. If so, you need to resolve that before moving on.
5) run the revolutionary executable file. A DOS window will appear. It will auto-detect your phone's serial number. Go back to the beta key generation form on the revolutionary website and generate your key. Enter in your key into the prompt in the revolutionary DOS window.
6) sit back and watch the phone load up HBOOT a few times. On the 3rd time, you will have S-OFF. On the fourth and final time, it will be bannered with a magenta Revolutionary label.
7) say yes to download and flash clockworkmod recovery.
That's it for S-OFF! Stay tuned for the actual rooting part.