I would think once you reported the device lost or stolen VZW would turn it off. Thus stopping the connection with the google servers. Once you sign in on your new device all you contacts and apps will be restored. Even the pay apps. You will have to fix your settings and stuff though.
The short answer is yes :icon_ banana:
Good point... as long as I report it fast enough...
That makes me feel a little better.... also trying to see if there is an easy way to backup the online contacts somewhere.. if so, that would preserve them too as long as I did it often enough.
I do see a new item online on Google contacts "import contacts"... I just don't see an "export" yet.