I have had the Incredible for a couple of days, and I've noticed a lower displayed signal strength than I'd see on my Droid in the same locations.
But I've not experienced any reception issues, and my internet speed seems the same or faster.
This is what I expected. We all know that you can't count on those reception bars to compare different phones, and also that Moto tends to have better radios/reception than everyone else anyway. As long as you're phone's radio is close to Moto's in the ability to make/receive calls, then normally you're not doing bad.