Its not what people make it out to be. Sure, it isn't as good as the iPhone's but nothing is. It really isn't a problem, and this is coming from a former iPhone user. If you're basing your decision NOT to purchase because of this issue, then you're not going to be happy with ANY non-iPhone multi-touch device.
I know, like I said it sounds petty, but the mulit-touch on the Incredible seems very close...but I don't want Incredible.