How to enable Wifi Access Point / Hotspot on my Moto Droid (2.2) without editing the Kernal or flashing the ROM?
When I first rooted my Droid (with EasyRoot), I remained on the stock ROM until I got annoyed by the OTA update message (and ended up switching to CM6).

However, I was able to use Wireless Tether without doing anything else.  No new kernel, no mods, nada.  Just root on vanilla Android.

If you've already updated to the latest version of Android via OTA, then I'm pretty certain you'd have to downgrade your phone to get root to work unless there is a new method to get root now.  I know for a fact that EasyRoot no longer works with the OTA update.