Mind telling us exactly how you did it?
And PS - don't do this with a phone that has 20% battery.
PS PS - if you guys downloaded this directly from the web onto your SD card, use Astro to verify the file extension says .zip.
Also, there is no folder called "root". When we say put it in the root folder we mean just put it at the top, not inside some other folder on the card.
When I hit fastboot and then recovery, it brings up a black screen with a pic of a phone with a red exclamation mark. Then you have to do a hard reboot.
Now I'm sitting here with the red exclamation mark and not going anywhere.
Mine did the same thing. Don't worry though, it will load.
Put the DL'd file on root of SD card
reboot into recovery (volume down + power)
select install update from SD card
it only has an option to load update.zip not just any zip file on the sdcard.