Pull the battery, put it back in. Hold the volume DOWN button... continue to hold and press the power button till the phone turns on... what does all the info on the screen that comes up say?

 

Was checking to see if you are rooted, would give more options. You can try doing a factory reset from that menu. If that doesn't work you can try reinstalling the OS. Let me know I'll get you the link for instructions.

 

The red triangle is recovery... when in the screen, press volume up and power at the same time... a new menu will pop up... select factory reset with the volume keys and press the power button.

 

The red triangle indicates that you are in "recovery." When you see the red triangle you should be able to press volume UP and power at the same time and bring up a new menu... are you not able to?

 

If that doesn't work you can file the instructions here:
http://androidforums.com/incredible-all-things-root/181255-how-return-stock-gingerbread.html

Ignore anything about root and "s-off/s-on" and follow the "zip file on sd card method".

edit:
Oh wow, that's some errors.... That may be unrecoverable but the above method may be worth a shot. But it looks like someone really messed with the formatting/partitions on the phone.

 

The incredible never got ICS officially.... So it couldn't of been installed like any other update, the phone would have had to been rooted.

It looks like someone plugged it into a computer via USB and had the computer format the partitions. The phone is basically telling you that the normal partitions that exist on the phone(fOS storage/media files/app storage) don't exist anymore.

In all honesty it's probably not fixable. You would need to manually rewrite the partitions to the phone, which requires root access, and I don't think you can get root access because of the number of missing partitions.

This user had a similar issue a little while ago:
http://androidforums.com/incredible...6-stuck-white-incredible-splash-screen-s.html

We weren't able to fix it.