This thread is now here for historical purposes representing times when people were free to do what they wanted with their devices. Fsck yourself with a rake, Verizon.
The bootloader has been unlocked. Let's get our freaking root on.
Disclaimer: Read through these instructions in their entirety. If these don't make sense to you, you do not need to be rooting your phone. Nobody here has the time required to teach you how to use cmd in Windows. We will not baby step you through how to use ClockworkMod Recovery. Root is not a mythical land with fairies and unicorns where nothing ever goes bad. If you don't know how to properly install a driver in Windows, you probably don't need an Android device to begin with, let alone a rooted one.
These instructions are intentionally left vague. Do your research on these terms. Understand what you are doing before you do it.
tldr: if you fsck your phone up, it's on you and only you.
Easy Way (YRMV!)
This is by far the easiest method. You will have to read between the lines here. I will not detail all the steps. Please record your experiences in this thread and let me know how it all goes! We're all still learning. This is basically copied from Bin4ry's CWMR Thread so thanks go to him! The easy steps below assume a lot of basic knowledge steps. Like unlocking the bootloader. If you're unsure of what to do, you probably shouldn't be doing it.
- Download the CWM recovery from multiupload
- Boot off of that file (DO NOT FLASH): fastboot boot recoveryPLAY.img
- Copy this to your memory card and flash it with the booted recovery
- Reboot and test root
Second Method: Advanced User Instructions
- Unlock your bootloader. Check out Ash's thread: thread
- Download Doom's all in one kernel from here
- Use fastboot to "hot boot" the kernel: fastboot boot boot.img
- Your phone may or may not boot. It doesn't matter. Let it be for a while, then power it off.
- Doom's kernel will have rooted your stock system.
If You're On A Mac...
Or maybe just need some general help with some more detailed insturctions than are labeled here, check out the awesome post that Cubsfan3493 made for everyone. He's even got a downloadable PDF with pictures. Go give him some thanks at his post!