he rooted his droid. not the droid x.
anyways, back on topic cuz i'd like to know what else i can do as well. so far i installed root explorer, autokiller and drocap2.
titanium backup is a must. backs up the apps + data you wanna back up in case you ever have to wipe/flash your phone.
clockworkmod recovery (droid x bootstrapper) - this allows you to make a full backup of the phone. if you make a mistake monkeying around with your phone, you can restore it to a working state.
themes - you can change the way certain things look on the phone (status bar, fonts, icons, menus)
boot animations - there are all sorts of different cool boot animations you can put on your phone.
overclock - you can speed up the processor to make the phone faster and snappier (not yet on 2.2) and you can undervolt it, which helps save battery.
you can dial in your phones processor with SetCPU, which will increase performance, or increase battery life (or both, if you get it right).
there is just so much you can tweak with a rooted phone. have a look around, and you will see.