How to Root your Iconia using Gingerbreak
Source: How To Root An Acer Iconia A500 thread on XDA
Requirements - Gingerbreak APK (link below), external MicroSD card
1) Enable USB debugging via Settings>Applications>Development>Enable USB Debugging
2) Have your MicroSD card inserted and make sure it is detectable by the tablet. Settings>Storage - you should see "external storage" with available space.
3) Place your tablet in Portrait view and enable rotation lock
4) download and install the Gingerbreak APK from the following link:
Gingerbreak **Note: installation from unknown sources must be enabled.
5) Run Gingerbreak and click the "Root Device" option from the menu. **Note - you must be in portrait mode. Gingerbreak will Force Close if you are in landscape.
6) Gingerbreak will apply the exploit and install Superuser - then reboot.
7) Upon startup, you will have Superuser installed if successful. Download "Root Checker" from the Market to verify root access if you are not sure it was successful,
8) Voila! You should be rooted.
Installing Thor2002ro's ClockworkMod Recovery
Source: [Recovery] ClockworkMod Recovery thread on XDA
Requirements - root access, external SDCard, Acer Recovery Installer from Market (link below)
1) Download and install Acer Recovery Installer from the Market, available from the following link:
Acer Recovery Installer
2) Run the application
3) Select "ClockworkMod recovery rev 1.2 by thor2002ro", which should be the third option.
4) Click on "Install Recovery Image"
5) Recovery will be installed and device will reboot. You can reboot into recovery by powering off the device, holding the VolDown + Power Button (VolDown is the volume button closest to the power button) and you should see ClockworkMod upon starting up. From here you can flash Nandroid backup and restore Custom ROMs and the like.
6) Voila! You now have custom recovery.