Old Droid X, now what?

I have a Droid X that is no longer in use as a phone, I switched to an iPhone on my renewal. Nothing against Android, it's just that the iPhone fits my device needs better. However, I don't want to let the Droid go to waste. So, I was thinking I'd do a factory reset and set it up as a "set top box" for online content to my TV and/or get an OBDII reader and GPS software for it and use it as a multifunction car computer (navigation and diagnostic code reader).

So today, I went into the device settings and did a factory reset. Now I'm stuck on the phone activation screen. I cannot activate it as a phone, because I'm not using it as a phone anymore. So now what?

It's running the latest (and last?) firmware available for it via Verizon, 2.3.4. I am now not afraid to try re-rooting and/or custom roms on it, as it is a spare device. If it bricks, I've lost nothing. Where do I start?

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