I don't know how it's supposed to work, but I used the clockwork method and everything went away just like I had flashed an sbf. I even had to reactivate the phone.
However, I decided to revert back to 2.1 and let the dust settle for a few days before trying again. I had made a nandroid backup prior to loading up 2.2 so the process was relatively painless to get the phone back just like it was.