I haven't done it yet, but may spend some time on it tonight.
The EVO needs rooted to function as a hotspot for free, and I believe it's currently usable as a true access point, and recognizable as such from other devices and will operate at wireless n, with WPA-2 security.
HTC just released the second OTA update for the EVO, and it breaks root, which would kill the AP. One of the methods supposedly re-roots it, but it's limited.
The updates (the radio and WiMax) borked some of the ROMS, but it seems that's been rectified for the most part during the last 24 hours or so.
I'm averaging about 2 - 2.5 Mbps on 4G, and the new update is rumored to increase that, but I haven't installed a ROM with the updates yet.
I'll probably do it tonight, assuming theres a working solution.
The devs over at XDA are doing some amazing things with the EVO so far, and HTC hasn't even released the source yet (much to the chigrin of many), but once they do, I think you'll see some amazing things happen.
I would guess you'd see something similar with the Droid X, but i have no idea how long it would take to get full access.
So, I highly recommend the EVO, I know Matt could get a portable player with full codec support playback working and there is currently no real competition for that on Android that I can find. It all sounds pretty hit or miss...
http://forum.xda-developers.com/showthread.php?t=692956&highlight=media+playerA true portable player for locally stored media, combined with Gizmo, which would play mkv's and flac would likely crash your download servers
I think the coming 3 day weekend with be so refreshing to you all that you could have this working by the end of the coming short work week