possibly have to exchange my phone few questions

[iamloco724]

i might have to exchange my phone

i have a few questions..first to get back to unroot i can just use droidmod to do that right?

then should i update to 2.1 before i send it back?

also how does it work with exchanges do i keep my sd card?

if so then all my backups from say titanium and mybackup that i put on the sd card would be good to go on the new phone right?