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I know I was able to upgrade after one year (thats how I got my droid). It was the two year price at Verizon retailers with a $35 upgrade fee. So I would guess that the same would apply for you meaning in two months you can get a Droid X for $200. Honestly if you can hold out for two or three months it will be well worth that wait.
verizon let me upgrade earlier fom my windows based smartphone to the droid. but i believe that was to help promote (word of mouth) the Droids. it seems as if they were pushing the droid on me. im glad i went with it, but it wasnt in their normal style or saying No...