I finished settings up my u8150

1. Latest stock firmware

Click: Settings -> About Phone -> Online Update

2. ES-File Explorer

Needed for installing .apk files
Also can explore windows network share over wifi and copy + paste so no need to plug phone in
https://market.android.com/details?id=com.estrongs.android.pop&feature=search_result

3. Gain Root Access (+super user +busybox)

use z4root to get root access / busybox & super user
Download .apk file from here - http://www.mediafire.com/u8150
or get it from xda forums
Use ES File explorer to install the .apk file

4. Swype

Get swype for u8150 from here - http://www.mediafire.com/u8150
Use ES File explorer to install the .apk file
Click: Settings -> Language & Keyboard -> Enable swype
To choose the swype keyboard you need to hold press on an empty text field and then select input method

5. SetCPU

Requires root access
The developer gives it out for free on xda or you can buy it from the android market
http://forum.xda-developers.com/showthread.php?t=505419
If you don't want to join xda you can get older version from here - http://www.mediafire.com/u8150
Install the .apk file from xda or from the android market
Run the application.
While on main screen, hit the menu button and select device selection -> auto
Allow superuser access
Set CPU to Max 600Mhz Min 245Mhz Scaling on demand

Add profiles
1. Screen OFF - Max 320 min 125 scaling on demand
2. Battery < 30% Max 480 min 125 scaling on demand
3. Battery < 10% Max 320 min 125 scaling on demand

This will save power when low on battery / screen off and make the phone a lot faster than stock when battery has more than 30% charge.  It will also save more power when screen is off, but will be slightly slower to wake from screen off because of the lower screen off cpu speed.

6. Autokiller

Requires root access
Install from the market
Set to "Optimum"
You should use this instead of advanced task killer

7. Launcherpro

Install from the market
Faster than the default launcherapp

8. Samba file sharing

Requires root access
Install from the market
Use this so you can share your phone over wifi windows home network

9. Widgetsoid

Install from the market
The best free widget for wifi/data/synch toggle etc...