I do not have Missing Sync and it is working.
The key is the ROM. I tried about 10 different ones before I found one that works. The latest Cingular test ROM from the wiki works...
Download link from the wiki...
Here is my data from Bluetooth->Prefrences
Device Name: PhonePOD
Device Address: xx-xx-xx-xx-xx-xx
Device Type: Computer
Device Services: Service Discovery, A2DP, Voice Gateway, Voice Gateway, Network Access Point, Audio Video Remote Control Profile
"Network access point" is what you need. "Adhoc Personal Networking" is not good enough it seems.