Contrary to popular belief, it oftentimes is possible to accept an OTA update on your HTC EVO without losing root access. I already briefly mentioned how I did this on the most recent EVO 3D update to 2.08.651.2, and now thanks to LotsaBS, we have a fairly detailed tutorial for rooted EVO 4G users who wish to accept their most recent OTA update to 4.53.651.1.
If you are daring enough to give this tutorial a try, keep in mind that your system/app directory must be returned to its original state. In other words, reinstall any system apps you removed (and be sure to keep the permissions the same), or "defrost" any apps you that you froze with Titanium or Bloat Freezer. Additionally, you must be on the most recent stock rooted ROM (version 4.24.651.1).
Of course, developers are usually quick to create rooted odexed and deodexed ROMs following any OTA update, so you could always go the safe route and just flash one of those.
However, if you are a traditionalist, and you are comfortable following a rather extensive and drawn out process, give the tutorial below a try. Just keep in mind that there are always risks to rooted users in accepting any updates OTA, so you have to take responsibility for your own actions if anything goes wrong.
[Android Central forums] Thanks, James and Steve!