I upgraded from the OG Droid to the Droid 3. Personally, I could not be happier. My wife upgraded from a LG Envy 3 to a Droid 3 and she is pleased.
The major problem we have with the Droid 3 is similar to that of the majority, if not all smart phones, is battery life. It could be better.
We both noticed that battery life began improving after 4 or 5 days and even out (improved over day 1/2) after about 10 days.
I logged my activities for Monday (9/12/2011).
1. Fully charged the phone over night
2. On wifi, updated a couple of apps
3. On wifi, downloaded a couple of apps, emulators and game roms, and 2 ebooks
4. On wifi, auto sync Gmail
5. On wifi, auto sync other email
6. On 3G, USB-tethered phone to laptop for access to corporate (MS Exchange) email and calendar. Down loaded 10 mg of attachments, uploaded 7 mg of attachment. While tethered for 2+ hours there was no change in charge %.
7. For about 2 hours read an ebook
8. On wifi, watched the entire Monday Night Football game (3.5 hours) Go Patriots!
I also have my screen brightness set at 25%, not on auto. If I need a brighter screen when outside, I make it 100%.
I still had 32% left at the end of the day. (I use an app that measures by 1%).
Though not the heaviest user, I think you can see from the above list that battery life, though not fantastic, is not poor.
Verizon states that the upcoming update will improve battery life. This will be good.
Just my experience, your most likely will differ.