First off, Im a newbie to Crackberry just today so hello!
I am getting a BB Bold 9780 from my company and one of the things I absolutely need to do is connect it to my laptop and other devices to get internet access when a wifi hotspot is not available. So, this means the TETHERING option which requires software to be loaded and running on my laptop (BB Desktop Software). There is a lot of confusion out there that TETHERING and a wifi hotspot are the same thing. They are not. The BB Bold can NOT at the present time be used as a wifi hotspot. This option is available on other smartphones (ie: iPhone 4) and is so much easier. You simply enable wifi hotspot on your phone and then connect to it with your laptop (or any other wifi device like ipod, ipad, etc) through your regular wireless N connection.
The limitation with TETHERING is that you cannot connect multiple devices at the same time and you must have the corresponding software loaded and running on the laptop to connect. So, I can TETHER my laptop but I cannot WIFI HOTSPOT connect my laptop (or other wifi devices).
So, to those people replying to wifi hotspot posts saying you can tether your BB to your laptop, this is not the samething as using your BB as a wifi hotspot.
Ok, now that my rant is done

there MAY be hope on the horizon. There have been leaks that very soon (May 2011), OS 6.1 will be announced by RIM. It has been rumoured that this version of the OS will have wifi hotspot capability for up to 5 wireless N client connections. There is however no confirmation on which BB devices this may work with. So, I suppose we just wait and see. That being said, the BB bold can send/receive information to/from the 3G network and wifi connection. This means that technically, in theory, it is possible for the BB bold or any other BB that has 3G and wifi to be used as a wifi hotspot. I sure hope that someone, RIM or 3rd party, writes this code soon!