Everything Droid doesn’t, DroidMod does.
Recently rooted my Droid with DMUpdater, from the guys over at DroidMod.org. Couldn’t have been easier. Overclocked to 1.2ghz, live wallpapers, wireless tether, and of course, su access. I get rougly 15 hours out of my battery between charges (reported from “battery left” widget).
Some “must have” apps:
Astro
RootExplorer
Terminal
Wireless Tether
Swype
Battery Left
DroidLight
SetCPU
HelixLauncher