Yeah, it's all still up in the air, but the rumors and the facts are starting to come together in this general direction.
As for the differences between the Nexus One and the Bravo, I think it worked out like this: Google went to HTC and said we want you to build a phone to our specs so we can sell it without subsidy. HTC said fine, and threw together what amounts to a Hero on 'roids, i.e. a trackball and similar exterior styling, etc. Meanwhile, HTC decided to do their own next-gen device while not sharing its advancements with Google, i.e. identical internal specs as the Nexus One (Snapdragon, AMOLED screen, etc.) however they left the best for themselves, i.e. optical joystick, better external styling, Sense UI 2.0 etc. This, again, is just another one of my many conspiracy theories.
In essence they are the same device, and HTC is simply filling in the carrier gaps with the Incredible wherever Google does not sell the Nexus One in the U.S. But if they are mostly the same, I would rather have the Incredible for the reasons mentioned above. It's everything the Nexus One is and then some, plus, with HTC's software, it will have out-of-the-box multitouch. Never a bad thing.