The biggest one is the power draw, the battery was almost totally drained by the time I got home from work. I haven't seen a cellphone use that much power since my original model StarTac some 8 years ago.
I also found that there while you could hack the older RAZR firmware to enable Bluetooth, Verizon apparently completely removed it from the latest version. If I want to use Bluetooth with this phone, I either have to downgrade it to the old firmware or install the (mostly) compatible firmware from Altel.
I figured out how to send wallpapers to the phone, so now my phone has bunny pr0n, but I haven't figured out how to send myself ring tones. The stock ring tones are just DREADFUL, so I ended up paying Verizon for a new one. Now when my phone rings, it plays "We are the knights who say... NI!"
Unfortunately, most of the office staff at work have RAZRs from Verizon as well, so this phone really isn't all that special there.