that is correct. the back cover slides off and the sd card be ejected.
i have the sprint htc hero (virtually the same droid eris) and i love it so far. my gf has the droid which seems a bit faster overall, but the htc supplied widgets, 7 screens, and the slimmer design wins for me. the droid seems huge compared to the eris/hero.
some apps to check out:
advanced task killer
fxcamera
battery widget (% based battery life)
movies (search movie theaters, get times, etc)
phoneflicks (manage your netflix account)
shazam (listens to song being played and displays artist/song title)
imusic (download virtually any song…free)
pandora (stream music)
ringdroid (create custom ring tones)
key ring (store all bar code cards on phone)
yellowbook