Hey guys, I tried this on Windows 7 and got to the part where I restart the phone. As said, I did get stuck in a boot loop. However, when I did a battery pull to get out of the boot loop and turned the phone on again, it still was stuck in a boot loop.
I ended up having to do a factory reset and lost all of my data (I backed up what I could). I find it ironic that the main reason I was trying to root the phone was so I could back everything up with Titanium Backup. Anyways, I knew what I was getting into when I started, but just want to warn people that just because its a lot shorter and simpler looking than the original method, it is still not to be considered "safe"; there is still a good deal of risk involved
EDIT: I tried it twice more, once using the programs provided to enable DIAG mode (same as before) and got the same boot loop. It would show the virgin mobile animation, show the last frame for ~10 seconds (as it normally does when turning on), then black out for a half second, then show the animation again. The other time I tried it I turned on DIAG mode manually (I know my MSL). When I did this, it was the same boot loop except right before the black screen it showed the lock screen for a half second.
If anyone has any ideas, I'm all ears