I've been following a lot of threads on the Incredible. I've tried to duplicate the big issue that out out there, and I really am not seeing it.
I extensively checked out the reception (or signal strength) issue. I did real world experiments with my Incredible in one hand, and my wife's Droid in the other. I see a slight difference in signal bars, but if one observes the signal strength in db, the numbers are close to the same & sometimes slightly higher (less negative - more strength) on the Incredible. I did these observations at strong, medium, and very week signal areas. dropped or broken-up calls: the same with both phones in near-dead areas. At least with my Incredible THERE IS NO RECEPTION ISSUE. There may be some defective Incredibles out there, or maybe just some nervous new owners.
BATTERY LIFE is slightly better on the Droid vs. the Incredible, but not so that it is a hindrance to everyday use. I came from Bold 9000, to iPhone, to Droid, to Droid Incredible. They rank in this order - best to worse: Bold, Droid, Incredible, iPhone. With the 1750mah Seidio extended battery the Incredible is better than the Droid.
These are my experiences, yours may vary.