I fought entering recovery just yesterday. It's very tempermental and I'm not sure what ultimately worked. I think I rebooted about 10-12 times.
There isn't much there though.
System recovery mode:
turn off phone (wait for the vibration after the screen goes blank)
press and hold vol down and power
when phone vibrates and the logo appears, release and re-press both volume down and power.
screen will go blank and the logo will come back up--don't release both buttons!
after a few more seconds, you get the recovery screen
the options are:
- Continue Power up
- Safe mode
- Factory data reset
- Wipe cache
- Power down
and of course
Factory reset:
hold vol down and power
when you see the logo after hte vibration, release and re-press power.
You'll boot into the factory reset screen with only two options "yes" or "no (exit)"