My only caution would be the battery. I think, between the fact that it cannot be removed, and the screen being termed "HD", you may see a quicker drop in battery life than you would with the Bionic. Thus leading you to carrying around a charger more often than you may prefer. Which may not be a problem for you. Personally I would still pick the Bionic over the RAZR for that reason alone. For example, I was up in Charlotte two nights this past week for concerts, and it was nice to be able to slip a spare battery in my pocket just in case I ran out of juice (I use Google Music, so I'm constantly streaming while driving). However, I ended up not needing it, even when my phone had been off a charger since 7am till roughly 3am. Still, nice option to have.
As for the other "upgrades" between the two devices: The slight bump in clock speed won't mean much, even after ICS hits these devices. The screen, while more "beautiful" indoors, I fear will not hold up as well in direct sunlight as the Bionic does. While the RAZR is thinner, in all honesty you get used to the Bionic after a day or three with it. So unless you're considering getting some kind of case for your device, I wouldn't really call it a plus.