S-OFF I do see recovery on the hBoot screen
These are both very good. You can pull the battery on your device... you need to pull the SD card out and put it in some type of USB adapter or if you have a computer with a SD card adapter, so you can load an ROM onto it, and possible a Radio depending on the ROM.
I need to go off line for a while... so here is it in a nutshell... I'd suggest just to be easy, find and download a Froyo ROM onto your SD card (it's a zip file containing all the programs your device needs to run the ROM)... then put the SD card back into your device, boot it up in hBoot, select Recovery mode, Wipe the Device, Wipe Cache, and under Advanced select and Wipe Dalvik cache... then go back to the main menu and install an update from a Zip file, which you will select the ROM zip file you just loaded on your SD card. After that loads boot it up... you will have a clean device, no data and have to setup everything again, download any apps... but you will have a working smartphone again.
You might want to look at updating your Radio... just go to
http://forums.androidcentral.com/thunderbolt-rooting-roms-hacks/97307-guide-upgrade-mr2-compatible-rom-radio-mr1-after-root.html.. they have all the instructions and help on updating your Radio.
Sorry I have to leave... hopefully someone else can help you and answer any questions you might have... but you do need some type of SD card adapter to put the files on your SD card.