Froyo won't make your menus that much faster, but I do notice installs and loads going faster. I'm sure some more processor intensive apps have been helped as well.
Gingerbread is the next update for the android operating system. Speculation pegs it to be version 3.0, but that has not been confirmed I believe. The biggest discussed change is a Interface overhaul, that will supposedly have stricter rules on what manufactures can skin. However I would not get any hopes up for a lot of reasons.
1) Google said it plans to slow releases of android to about 1 major release a year, so while there are rumors of a December release from Google, that might not be true. Plus theres a delay of how long it takes for HTC to get it to us.
2) We might not get an official update at all anyway. Froyo isn't officially coming to any of HTC's older phones. For instance the Hero is less then a year old and won't be getting Froyo. Also because of the UI rule changes, HTC might not be as inclined to adopt the new version right away. Especially on established Hardware.
Only time will tell for sure, but as I said I wouldn't really get all that excited for it anytime soon.