Yeah, I was getting a pretty warm phone too. I was using the default 800 mhz kernel that came with BB. I switched to one of p3droid's 600 mhz kernels and the phone is much cooler. I've also been experimenting with a BB set speed script by Se7enLC over at droidforums.net (
new set speed script for bugless! - Droid Forum - Verizon Droid & the Motorola Droid Forum) as an alternative to buying setcpu. I got concerned with potential chip damage/failure resulting from the very noticeable temperature difference when running at 800 mhz.