You and I have the same issue.... I have pinpointed it to the interaction of GPS with the Mobile Network. As I stated it seems both GPS and mobile networks needs to be on for Google Maps and Sprint Navigation to work properly, if activate the Navigate I get the instant reboot with in usually 5 minutes to, times vary. I have also tested without the mobile network, GPS on, and no issue. Last, but not least, if I shut off the GPS, I seem to have the same issue with rebooting if and only if I have the Mobile Networks checked on. I could be using the phone with no issue and then all of a sudden it goes into reboot mode. If I can get into the settings and uncheck Mobile Networks, it quits rebooting, sometimes I can't get it to do it and have to pull the battery.
This is where I go:
Menu>Settings>Wireless & networks and then uncheck mobile networks.
I can shut mobile networks off and use my wi-fi at home with absolutely no issue.
Now, for the last note, I heard back from HTC today and was asked if anyone contacted me about replacing my phone, to which I responded no, not yet. He informed me that they have enough phones and have pinpointed the issue and will be sending an update OTA. I first misunderstood him and he repeated that an OTA would be sent and it was a prioirty. I then said to him, so it is a software issue and he confirmed that it seems to be the interaction between the GPS and Mobile Networks and how the phone handles it, he compared it to a computer shutting down when too many things are running at once (thing is, I could get it to happen after a fresh wipe to factory too). Unfortunately I did not confirm if it was the HTS software or Froyo, but just happy that enough of us called and complained that finally we may have the fix. I'll keep my fingers crossed.
If you have this issue... PLEASE continue to call, we need this OTA fast!!!