Update 2/21: Just got the email from Verizon that said that they got the phone and they were processing our return of 802.49! That means that if we actually get that amount back then we will have lost no money by returning it. SCORE!
Update 2/23: Money has been put back on the credit card we purchased the phone with.
Conclusion: We can now count the Verizon iPhone 4 affair as closed and as a minimal loss. All we really lost out on was our .20 ebay listing. We also took the time to list the phone. The most we lost was my sleep because I had to wake up at 3 AM to order the thing. I'm glad that we've finally got this one behind us and have our money back. Also being able to chock it down as a really no win no loss situation makes me pretty stoked.
Have a few more things to say about iPhones and pennies, so stay tuned for next time.