If you haven't automatically received the update and you're anxious install Android v2.2 (FROYO) on your Motorola DROID then you've come to the right place. You can download the update.zip right here, copy it to your SD card and install it directly!
(NOTE: Download to your PC and copy to your phone over USB to avoid "Signature verification failed. Installation aborted" issues caused by corrupt downloads!)
1) Download update.zip here!
2) Copy update.zip to the root of your SD card.
3) Shut off your DROID.
4) Turn on your DROID while holding down the physical X key on the keyboard.
5) When you see the exclamation image, like below, press the volume up and camera keys at the same time.
6) Using the D-Pad select the "apply sdcard:update.zip" and press the center (gold) button.
7) Watch the update install and enjoy Android v2.2 (FRG01B/FROYO)!
When I used to own the T-Mobile G1, I remember the process of gaining root access being extremely tedious and risky.
Thanks to the group over at DroidMod you can install an application directly onto the device to do it all for you! You don't actually have to install DroidMod to root the device, but it does include some nice features like WiFi tethering, live wallpapers, and 5 home screens.
Note: I claim no responsibility if you brick/ruin your device.
Step 1: Install DMUpdater
Download and install the DMUpdater v0.1.1 application, the .apk file can be downloaded here.