1) download the unlocker & rom and unzip each to it's own folder on the desktop.
2) backup all your stuff to an sd card. i suggest keeping a copy of all your favorite cabs on an sd card as well for reinstallation.
3) hook up the phone to usb cable. make sure you have activesync and windows mobile device center installed.
4) run the unlocker program (or rom update if already done)
5) click next until phone enters tri-color mode
6) finish process by going through the steps
6a [unlocking only!]) if it gets stuck on that screen and does not work, take out battery, put it back in and start over. when you get to that tri-color mode again, immediately unplug the usb cable and put it back in again. then it should work (that's what i did). you will hear the unplugging and plugging notification sound in windows.
7) after a reset, start the same process over with the rom from step 4
8> reinstall all your favorite cabs and copy all your files back to the phone.
it's wicked easy and it only takes about 5-10 minutes tops
this is the super easy dumbed down lazy version.
if anyone else wants to do a more in-depth version, go ahead.