If you don't want to wait for the Froyo OTA ...

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... and you don't want to root, either, there's a ROM Update Utility (RUU) available since yesterday morning.

I installed it yesterday and it was painless.

You want to go here: http://shipped-roms.com/shipped/Incredible/

And download the one labeled: RUU_Incredible_C_Froyo_VERIZON_WWE_3.21.605.1_Radi o_2.15.00.07.28_2k4k_NV_1.50_PRL58006_release_1433 51_signed.exe

Then sync your phone with your computer, run the .exe, and wait for the magic to happen.

By all accounts this is identical to the OTA, although this will wipe your internal memory, where the OTA won't.