Can I tether my Macbook (Lion) to my Verizon Droid Bionic using either USB or WiFi?
I resolved this on the Mac by turning wifi off and then back on.   On the Win7 PC, running the network troubleshooter (which I believe turned the adapter off and on) also solved the problem.    I believe it may be related to some state left over from a previous connection in both cases.   

Off-topic: with a 4G (LTE) signal, internet access was comparable (maybe better) to my 6Mb DSL access at home.