AS vipperstriker says, unlock the bootloader and root it. do a Nandroid backup after unlocking and before rooting, so you can put it back to stock if necessary.
Just follow the guide in the All Things Root sub-forum.
As a guide, mine's rooted and running WildChild3 rom. I've got over 40 apps installed (Moved/linked to SD card) and have 75Mb free.