That's great, Verizon will be getting a year old phone on the cusp of it being replaced with a newer model. Brilliant.
It will probably be a "refreshed" phone, maybe a little better processor (dual core 1.2), step-up the camera, probably have NFC. In other words, your typical marginal refresh. That would be pretty much all I need, with the only next meaningful step to something that really CAN replace a basic laptop.
As smartphones go, there's not much more power you need (never did figure out if half the 1gig ram is partitioned for Webtop). I mean, c'mon, quad-core with 2 gig ram is basically on-par with a lot of mid-tier laptops still out there. And you really don't need more to surf the web and run basic Office apps.