I think the Incredible's terrible RF is an issue. My reference is my Milestone vs Nexus One (GSM), but I've heard enoguh complaints on the Incredible's RF to conclude it's just the same design.
I'm loving my Milestone more and more. With 2.1 out for Telus, the Milestone overclock finally unveiled, we're getting there. It's no Droid though with a fully unlocked bootloader and custom ROMs, but honestly, I'm more happy that I ditched the N1 now. I could probably say the same about the Droid vs Incredible. Although Sense is QUITE nice....
Overclock the Droid and it's fast as hell. My Milestone is running at 1ghz and while its not as tuned with 7 slot freq or whatever that Droid users have with their custom roms, 1ghz is far better than the stock 550 which is a joke.