According to the Android Developers Page, the capability is coming with the 2.2 update:

Portable hotspot

Certain devices like the Nexus One can be turned into a portable Wi-Fi hotspot that can be shared with up to 8 devices.
You can use your Android-powered phone as a 3G connection for a Windows or Linux laptop by connecting their phone to the computer with a USB cable. The connection is then shared between the two devices.

Now whether this will apply to your Incredible remains to be seen. It depends on at least two factors:

1. Whether the phone has the hardware capability.

2. Whether Verizon allows that functionality to remain in their version of the 2.2 update.