The 16GB RAZR @ $199 with your own 16GB SD card would be a great deal, especially if you have a $50 discount.
Personally, I love my RAZR and the battery works great for me. I'd rather keep the form it has than have the added thickness and weight. Some people say it's only 1.9 mm added depth, but the RAZR is the longest and, slightly, widest phone out there as is; but it makes up for it by being the thinnest and lightest phone.
So, up to you. I know I'll be buying another RAZR next month, and most likely it'll be the original RAZR. I'm just not sure what color. hmm...