Saturday, I unlocked the bootloader ("fastboot oem unlock") and flashed a new recovery (Amon_RA's v1.7.0). Then I flashed the latest Cyanogen Mod (v22.214.171.124).
Lovely! My Nexus One is now better than ever. Now it can be a wifi AP for the whole house when Telecom's DSL goes down and takes my Orcon out. (The non-root tethering solutions are for single PC's only....and only Windows and Mac - Just not good enough). Being able to store apps on the sdcard instead of internal storage is also a great plus.
After unlocking the bootloader, when you power it on there is a small white 'unlocked' padlock appears under the Nexus cross. Badge of honour or mark of shame? LOL!
Anyone else tried CyanogenMod v5 on their Nexus?