Taken Advantage of by "Shift Supervisor" at Customer Service

OK, let me start off by saying that overall I have no real complaint about Verizon, generally speaking.  Have been with them about 10 years.  However, that being said, it also becomes part of the issue. 
Situation: Iphone 4s got wet, stopped working.  Did all the things to get it working again, no go.  Decided to contact customer service, thinking maybe they would offer me me a discounted upgrade.  I mean, isn't customer loyalty a two-way street?  So I get on the phone with the customer service rep and explain the situation.  She replies that nope, you're not eligible for any discounts.  After 10 years, no love.  Yes, I know it's a business.  I work in the business world and am well aware of margins.
Anyway...because I easily make enough money to exit the contract I ask her how much to terminate immediately (not really a bluff as I was totally ready to) to which she asks to speak to a "supervisor".  She comes back on and offers me a deal:
1.     "New" Droid Incredible
2.      Conditionally that we start a new contract date
Not being a complete nerd (yes, I am a partial nerd/geek hybrid) I wasn't really up to speed on what a "Droid Incredible" was (wife and I have both been apple phone users for a few years) and that is was basically worthless in this day and age, especially with the new Iphones about to be released.  So, duh, I said "oh, thank you so much" like they were really showing me some love.  Well, any of you who know these devices already knows how the Droid Incredible rates against the newer technologies.
This rant is basically just that.  I trusted (my fault, not theirs) a "supervisor" (of which I am actually one in a manufacturing facility) to take care of me.  Now, I'm stuck for the next 22 months (I was approaching the end of my existing contract) in this contract with a phone that sucks (comparatively).  I rarely participate in venues such as this, but it really chaps my hide when I trust someone who does not really "care" about the customer.  After this, and with so much market competition out there, I will probably terminate my relationship with Verizon (it was never about the money, but about showing some love). 
I hope those of you who are naive like me are wary when dealing with "customer service" at Verizon.  It's a busniess and they want your money.

Why didn't you either
1) research the device online before agreeing to the purchase?  You could have done this while you were on the phone with the representative.  Or you could have said, "Let me call back after I get more information."
OR
2)  Take the device back within the 14 day worry free period and get something else?

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