Okay after doing a lot of reading up on the Eris I have found that new Eris phones are shipping with a newer firmware that cannot be rooted. In other words hackers have not been able to open up the OS to gain super user root access.
It all has to do with the hboot loader. If it reads 1.49 S-ON then this loaded will not accept new firmware other than the stock HTC or Verizon approved. The hboot loader is where you work the new file into the phone to modify the os to open up access.
Not trying to turn this into the Eris forum, but wanted to warn others like who wanted a cheap way to wi fi tether. It won't work. From reading the xda forums the debs are working on it, but it may be a while as no one has come up with a workaround.
I like the phone and will keep it with the hopes that the rooting ability will come soon.