As always, take this with a grain of salt, but it sounds like HTC will be releasing a firmware update for several of their current generation WP7 phones, including the Trophy, by the end of October to enable Internet Sharing/Tethering.
http://phonetitan.com/htc-to-enable-internet-sharing-on-htc-hd7-surround-mozart-7-pro-trophy/
Guess it's now up to the almighty Verizon folks to enable to feature. Excuse me if I don't hold my breath waiting for them to do anything worthwhile related to WP7 until absolutely forced to.
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