Dave,
I still like the phone. I'm finally getting my rebates for the damn thing too so that's always a plus (I bought mine from Wirefly.com, rebates equalled the cost of the phone, but I was signing up with a new provider).
The issues:
Reception isn't necessarily as good as a phone with an external antenna, but in all but the worst areas (around my home unfortunately, where even my wife's Treo has trouble) it gets a signal just fine. When not making a phone call if you open the phone and hold it to your ear there is a buzzing sound. It's annoying as hell when you first notice it, but once you know it's there...so what. I don't open the phone and hold it to my ear unless I'm making a call so... I've read quite a bit about them being fragile. Mine seems to be holding up just fine and I've dropped it a couple of times, but if you are a clutz or want a rugged phone, probably not the one for you. Battery power, SUCKS. Keep a charger with you. I'm not on my phone a ton each day so it doesn't really affect me. If you use your phone constantly though, consider a phone with better battery life.
Also, Motorola just came out with the next gen of this phone: The Krazer (krzr).
PC Magazine Review
It's a bit longer, bit beefier looking than the Rzr. It comes with a built in MP3 player which the Rzr doesn't have. Personally I don't like it as much as the Rzr.
Also, I think there's a new version of the Rzr, the V3
M vs V3
C which I have.
Let us know what you get.