Bad News - I am on my third 'Droid, the first on bricked on the first software update (the famous 'M' problem), the second one developed a screen failure, and this their one - you guessed it - likes to reboot itself several times a day.
I've been working with a 'Senior' Customer Service Supervisor, who patiently listed to my complaints, and my pointing out the 63 pages (so far) of this discussion on the Motorola board, and my wish for a NEW phone, not another rebuilt - i.e., I don't want someones else's probem a third time.
She first checked Verizon Wireless's records, which showed a 'few' such complaints. She then contracted Motorola, which told her they have had very few such complaints, so few that they don't recognize it as in issue, and it is NOT being worked! Now, I'm tempted to post her direct number here, but in all fairness, she is still working on the issue, so I'll give her more time.
I suggest, however, that we collective are NOT making a big enough issue over this problem, and that Verizon Wireless and Motorola need to hear from us a bit more often. If you call Verizon Wireless customer service, don't stop with the first level of support - ask for a supervisor, insist on it if need be, be polite but firm - you need a WORKING phone, and you need to find out what Motorola is doing about the problem. Its not a cheap phone, its not a cheap service, and we are collectively NOT getting our money's worth.