Yesterday, my droid unexpectedly shut off and would not power back on. Here is how I reset it to factory default:

Hard Reset
1. Power off phone
2. Use hardware keyboard
3. Press and hold the ‘X’ key and Power button until you see a screen with an exclamation point inside a triangle
4. Press and hold the Volume Up key then press the Camera button (I had to do this twice) to get menu screen (Linux back-end becomes VERY apparent here)
5. Using the D-pad, select one of the Wipe options (specifically Wipe Data/Factory Reset)
6. Confirm your selection and wait for it to complete
7. Reboot the device

(I kept the SD card out during this process as to not format and wipe my data…)