I got my Droid a couple of weeks ago, LOVE IT! Most fun phone I have ever owned.
I have mine rooted now and underclocked to 125mhz while sleeping. Makes for some fantastic battery life with no decrease in performance! I think I am going to overclock it to 800mhz here soon. It has been proven stable at 1.1ghz. But that would put to much drain on the battery. (stock speed is 550mhz)
I also have the NES and SNES emulators. I have Zelda, super punch out, all the mario games, Mortal kombat II, Killer instinct, contra, Donkey Kong Country and others on here and they all run silky smooth! Freaking amazing phone!