Don't get me wrong. I love my new iPhone. I am a little upset the the iPhone 5 will come out in about 6 months, hence making my phone out of date less than a year after purchasing it. But that's ok. You expect that when buying any new tech gadget.
What I may end up having the biggest buyer's remorse over is not waiting until the Galaxy Nexus came out. That phone looks sick. (I use the word sick here in a good way). One of the coolest features to me is the facial recognition software which can be used to actually unlock your phone. For many of us, this is the closest we may ever come to a "high-level security clearance" like NASA and other government positions.
The Galaxy Nexus uses Android 4.0's Ice Cream Sandwich OS, which allows you to resize widgets, easily multi-task and actually eat the phone. OK, you can't eat the phone. It is pretty sweet though. (Pun intended).
The biggest loser in all of this might be the Droid RAZR as it will be released with an old mobile OS. The RAZR uses the Android 2.3.5 Gingerbread OS featuring none of the afore mentioned 4.0 capabilities. The best part about it is it looks really, really cool. There is stainless steel and Kevlar on it. Umm, bad ass. Did I mention it's incredibly thin? Like 7.7mm thin.
All in all, I think one would be happy getting any one of these three items (iPhone 4s, Droid RAZR, Galaxy Nexus) for their Holiday present. Personally, I just want a blue ray player. Yes, I'm sans blue ray. Sad I know.