I don't know if this is a bug or something unique to my setup, but just now I paired my N7 to my DroidX smartphone through Bluetooth, and now my Nexus 7 is tethered through the Droidx to the Internet. Also I've made no mods to the phone or N7... both are completely stock and not rooted.
The bandwidth is slow for sure, it took about 45 seconds to download a 6 Meg app from Google Play, but it's working none the less. Also a bonus for me is I'm still on an unlimited data plan and don't pay any extra for tethering!
Can anyone else try this? My DroidX actually has some bad spots on the screen and I've been thinking of doing a warranty replacement, but unless someone else can verify this works from other Droid phones I can live with the bad spots if it means my N7 will be online from anywhere.