Well, I got my replacement Eris yesterday. The update immediate showed up and I installed it. The battery life seems a bit improved although it just still seems a bit too short.
The signal issue still is there. It doesn't fluctuate as bad as before the update but it still does fluctuate. I am at home where I would get full signal or maybe 3 out of 4 bars rarely (W755, Storm 2). On both of the Eris devices, I usually sit at 0 bars. I check the dcb level in the status menu and it would say 0 & 0. I am going to toy with the replacement for a couple days and if nothing changes, I will have Verizon open up a trouble ticket. There is something definitely wrong here.