Well here's the issue about this. The Razr and the Bionic are essentially the same phone except for the screen. The Razr has an AMOLED screen but a non removable battery where as the Bionic's can be replaced.
Don't forget, the data dropping is not a Bionic exclusive issue. ALL Verizon 4G phones have had it...
This Is Why Your Verizon Galaxy Nexus (Or Other 4G LTE VZW Phone) Is Losing Its Data Connection
It's been seen by the Nexus, the Razrs, and of course our Bionics. Obviously it's not just ICS that cures this issue as the Nexus shipped with ICS but rather some other software update that's been done to these other phones, that seems to have been coupled with the Razr's ICS release, that has fixed the data drop issue for them that has not been pushed to us yet.
One other problem with the Razr is that their ICS release was buggy.
Droid RAZR & Droid RAZR MAXX ICS Issues Now Two Months Old
There has been a lot of speculation that the reason our ICS hasn't gotten to us yet is they figure the same problems seen with the Razr would be seen on the Bionic, which due to the hardware similiarity would be a pretty good assumption. Now I can't speak to why some on the ICS leaks haven't had major issues, although there have been some problems with them as some of the forums have talked about.
Is the Razr a superior phone? Well, that depends on whether you see the AMOLED screen as a major improvement over the Bionic's (personally I do not) and if being able to swap batteries is important or not. The phones have identical CPU's, the Bionic's is merely clocked down to 1.0GHz whereas the Razr is at 1.2GHz, and have the same 1GB RAM and 16GB base storage. If swapping the battery isn't a big deal to you and the AMOLED screen of the Razr is something you really like better, than yes, to you it could be a superior phone, but those are personal preference type of things no one but you can decide on.
As for Jelly Bean being for both phones, we have been told yes, it will be on both or people will get $100.
Motorola Promises Jelly Bean Updates for Droid RAZR, RAZR MAXX, Droid Bionic and More
In the end you have to decide if the data drops is more annoying than the ICS bugs the Razr has will be. The fix for both is likely to be in a few days.