Yes, an overclocking method has been found for the Droid X, but no, the bootloader is not cracked. Using the same method as the Milestone hackers, an injectable kernel module has been built that will overclock the Droid X's processor to about 1.15 GHz. Yes, we realize that a mere .15 GHz gain doesn't make that much difference -- we're not concerned with the speed increase as much as we are with the simple fact that no matter how hard manufacturers and carriers try to keep us out, someone finds a way in. Rooting and altering the CPU frequency on one of the most locked down Android phones to date is proof positive of this.
A quick read of the source link will tell you that this isn't quite ready for prime-time just yet, but give it a little time and even if a large speed increase doesn't come of it, the method looks like a good way to extend your battery life by dropping the voltage and clock cycles while the processor is asleep. [Droidforums] Thanks Chris, for the tip and the method!