That's what I'm doing with my Incredible. Helps that my brother-in-law and I were able to swap out my cracked screen with a new $15 screen I found on Amazon. Saved the phone. Too bad the phone gets buggier and buggier with each system update. You would think doing a full system restore just to get the OTA update to work right would prevent the bug issues, but apparently not. That being said, this phone is the first phone in years I haven't outright hated by this point of my ownership. In fact, I still think this phone is awesome, even for its age.
I really liked my Incredible a lot, that was the only problem with it - my phone would basically crash after each update. That was part of my decision to go with an iPhone, stability - but the interface really just isn't as good as that of the Droid.