I have the Razr. I like it, but not everyone does. There is an issue with the earpiece where if you open the phone and put it to your ear without making a call you were hear a constant, low volume, high pitched buzz. It's annoying as hell, but fixed by simply not doing the above (no idea why I did it in the first place). I actually had to just check to make sure it was still doing it, lol. Battery life is not the best. I have a car charger and a wall charger and I keep it charged as much as possible. It usually will last a couple days for me, but I'm not on it all the time either.
Like I said, I like it, but here's the complaints I've heard:
Fragile. I know some who have already gone through two or three. Get the insurance.
Short battery life.
Flat buttons, while cool looking, can be difficult to dial with.
Get yourself a bluetooth headset with this bugger, they are cheap (don't pay more than $39) and they make the phone that much more handy.