Finally upgraded to Froyo.
After using this phone for a year and a half now, I felt sever desire to upgrade it. Searched a lot for 2.3 ROM, found three but I was not confident enough on their stability. But during that search I found 2.2 ROM. Finally upgraded it 2.2, root it and also able to use link2sd. Few apps like Wunderlist and Line they were not compatible with 2.1 are now compatible with my phone.
All in all a good experience with this phone.
congrats, better late than never
do post the method and links here for the benefit of everyone