HowardForums has posted some purported photos and specs of the yet-to-be-announced Motorola RAZR 2 (the name is still undecided, but the phone that replace the RAZR V3). Stylistically the design hasn't changed much, but there is more power under the hood. Specs of the RAZR 2 include:
Since this phone is unannounced it's quite likely there will be some spec or design changes. No word on when it may come to market.