I was about to ditch my Incredible with it's hilariously bad battery life until I rooted it. I can probably get 2 days out of it now. My Nexus One had great battery life. It's the software. Not saying it's an excuse (they put the OS on there) or that this is palatable for the average person, but the hardware is solid.
EDIT: To add to this, it's likely Verizon's fault for the Incredible's battery life, because they require the vendors to install terrible, low quality applications & system extensions that can't be uninstalled from the phone.
I've had the same experience with my Incredible. The fact that CyanogenMod 7 is Android 2.3 based, while there isn't an official Gingerbread ROM for the phone, is probably also a factor.
EDIT: To add to this, it's likely Verizon's fault for the Incredible's battery life, because they require the vendors to install terrible, low quality applications & system extensions that can't be uninstalled from the phone.