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The droid 4 and the Bionic are two different phones. The Bionic has been rumored to be coming out in early August, either the 4th or 7th, that has since been followed by rounded that it has been dropped and now we are hearing that it will come out on September 1. So far september 1 seems to be the day, but its still rumors at this time, no advertisements for the Bionic have been seen and there has been no official statement by Verizon for quite some time.
The Droid 4 however will be the Droid 3's predecessor, it should be expected to come out in about 10 months as the Droid 3 was just released the other week. It will most likely have a slide out keyboard and be an LTE phone.
I think it is funny that the Droid 3 just came out 2 weeks ago and people have already started asking when the Droid 4 will be out. It is both funny and sad that cell phones, as well as other electronics, have essentially become disposable items that are replaced and discarded every few months.