For anyone thinking of getting the MOTO RAZR (V3x/m/c/i) I would highly recommend that they take a look through the volumes of readily available information from resources such as Amazon.com [reviews].

Here's my take from personal experience:

Pros:

• It's thin. It's both amusing and at times useful [to some extent] to have a thin phone.
• Call quality is better than expected; the phone isn't going to win awards for call quality, but it isn't the absolute worst either.  With BT those problems disappear entirely. 
• It fits well in your breastpocket, the camera (while not great) is workable.
• If you're lucky, you grabbed the Sprint version of the V3m or an otherwise Java based Razr (e.g. V3x) you get access to JavaApps. 

Cons:

• It has buttons on the side of the phone that can get annoying if you don't happen to enjoy locking your keypad all the time. The camera itself is, as noted above, not as big a selling point as your local sales dept boosts in those nifty commercials.
• It's wide.  While it's thin, the thing fits like a poorly designed paneled brick in most pockets. Grab a slick holster (e.g. Vaja) to clip this to something; it'll save you headaches.
• Everyone has one -- blame it on the mass advertising.
  
• Battery life is pretty horrible -- and completely unsuited for extended use of Bluetooth and speakerphone capabilities -- you'd have thought they'd find a way to make that lithium ion battery work better.
• If you're unlucky (like most), you have a BREW (rather than Java) phone -- your nice JavaApps (e.g. iTunes, GPS programs, games, etc) won't work anymore.  Instead you get the wonderfully clumsy interface of Verizon, Alltel, or some other carrier.  If you're "lucky" enough to be using Sprint, you CAN unlock JavaApps ... but you'll be likewise using Sprint, which may or may not be a trade-off you care about. 
  

Other notables:
If you go with the V3m, be well aware that you will be getting a BREW phone (unless you grabbed the Sprint version, in which case you CAN unlock Java). That means no Java apps. Say goodbye to a good 1/3 or more of the applications you have been using, and enjoy paying redundantly for programs you downloaded on previous phones.

Call Quality:
Not as bad nor as good as most people seem to indicate. I've definately had better call quality on older phones, but it wasn't as if I was constantly worried about catching what someone else was saying. Additionally, the use of a bluetooth headset will alleviate most of your problems.

Summary:
This is obviously a "fashion phone" rather than a "functional phone"; it doesn't pack the extensive functionality found in other phones, but it does its job well enough. Some design decisions on various models of the RAZR series will leave you scratching your head. However, all in all, you could do much worse when selecting a phone. Just make sure you understand what you're getting here -- it's a thin cell phone that works; not the replacement i-pod, digital camera, or PocketPC that happens to have call capabilities.