It’s been a couple weeks since Cyanogen released version 7 of his custom Android ROM based on 2.3 Gingerbread. CyanogenMod 7 maintains support for 27 devices at the moment, but those of us with the first generation Motorola Droid were originally left out of the Gingerbread fun. According to Koush who maintains the CyanogenMod port for the Droid, some lingering issues with data tethering, data transfer, and the camera pushed back the official stable release. Those issues have been resolved you are now free to try CM7 on your Droid.
Motorola hasn’t been forthcoming on any official Gingerbread updates for the Droid. If you are waiting for the official update you might have to wait forever as it will likely never come. If you want Android 2.3 on your Droid and have never rooted your phone or used a custom ROM now is a great time to jump in head first.