But while the EVO doesn't have a hardware home button, it does have a volume rocker. And unlike on the iPhone, pressing the volume up or down button on the EVO does awaken the device from standby if you've disabled the lock screen. It does it without adjusting the volume, too, so you don't have to worry about having to readjust it later.
So to all you former iPhone users out there, don't spend another second wishing the EVO had two buttons that could be used to awaken it. It already does. And if you count the volume rocker as two separate buttons, then it actually has three!