Swype comes preloaded on the X but you can easily download it from the web on the Incredible. I use it and I like it pretty well although I'm somewhat less enthusiastic about it than I was when I first got it.
Probably the biggest factor between the X and the Incredible are screen size. The X is BIG. If you like to watch movies and such on your phone, this is a good thing, but some people find it too large to comfortably carry in their pocket etc. Go down to the store and play with both of them before you choose.
As far as Larry's list goes, I think any of the big 3 droid phones would satisfy everything on your list except the location using GPS. They do all have GPS and built in turn-by-turn navigation which is free but as far as I know there is not a way to locate it remotely using the GPS.
With regard to battery life, the Incredible gets through the day, barely. I don't do anything to manage my battery (leave wifi and GPS on all day) and if I take it off the charger at 7 AM it's usually dead by 7 or 8 PM. I don't make a lot of phone calls but I do listen to podcasts most of the day so it's usually doing "something". I think that my experience is probably worse than most people's because I am out in the country where the coverage is either spotty or non-existent most of the day so the cellular radio is constantly searching for a signal. When I've been in Billings in good coverage I've had it last overnight and into the next morning without being plugged in. I think if I managed my battery a little better and wasn't out in the sticks it would probably get through the day easily but I chose to solve the problem by buying a second battery and a charger that can charge the battery outside the phone (don't get this from Verizon, they're WAY cheaper on ebay). I just carry the spare battery in my pocket and if I'm not home by 7 or 8 when the phone starts to die I throw the other battery in the phone and it's good until morning. Long story short, the battery is adequate for me but not ideal. I don't know how it compares to the other droids.
As far as the Storm goes, I have never used one or even seen one so I'm not sure what the problem with them was but I just know that they are generally sneered at on the gadget blogs.
If you're looking for cell phone reviews, check outhttp://www.engadget.com
As far as new phones on the horizon, yes, there has been a new android phone at least per month all summer and a new generation is promised in time for Christmas. The big wildcard is Microsoft's new operating system, "Windows Phone 7" which has gotten a lot of buzz and pretty good reviews despite the general crappiness of it's predecessor (Windows Mobile). They totally threw everything away from Win Mobile and started from scratch with reportedly pretty good results. With the atmosphere right now though, if you start chasing that next big superphone that is coming out next month, you will never get a phone because they are just cranking them out one after another. It's really a fantastic time to be a cell phone customer because there are many very good options on pretty much all carriers right now and these phones are just amazing. They can do pretty much anything a computer can do and they will definitely change how you think about your cell phone forever.