Update: On Monday, August 2, Verizon Wireless confirmed that the Droid will not receive the tethering and Wi-Fi hotspot features that the update can include. For a full list of additions, see Verizon's site.
According to Verizon spokesman Albert Aydin, the carrier will start issuing Froyo the week of August 1. Aydin did not name a more specific time frame, but we suspect that Verizon will do its best to counter Sprint's update, which should start rolling out Tuesday, August 3.
USB tethering and Wi-Fi hot-spot functionality, new Microsoft Exchange features, an improved application launcher, and the option to disable data access remotely.