I had the X (along with everything else) I would still have it but I'd rather give an employee a used phone and buy me a new one. :-D
Except as mentioned above the phone is good. Think of it as a 4G, dual core, dual camera, unlocked 7 band version of the X. (Though the quad band GSM is not easy to get working.)
I pretty much agree with this. I never owned an X but the Bionic does just remind me of a better version of those devices.
As others have said, data drops and the constantly-delayed ICS Android 4.0 update are the biggest sore spots with Bionic Owners. Both can pretty much be solved if you are comfortable with installing one of the ICS leaks yourself. But if not they are saying the official update should be out by the end of the year and I think they realize if they cancel it again people will practically be ready to riot.
I'm not familiar with what else would fall into your price range when buying without a contract. You could probably get a Galaxy Nexus for around $200 or a little more. It's a mixed bag compared to the Bionic though. On one hand, having a Nexus-branded device means it runs an original version of Android without the phone manufacturer messing around with it to put their own person touch on it, and the device will get updates from Google fairly quickly. On the other hand, its camera has fewer megapixels than the Bionic (although image quality isn't all about MP), and the Bionic seems to have more options when it comes to extended batteries and other accessories.
I'm not sure if any of the RAZR models fall into your price range. If anything I'd imagine only the first RAZR that came out before they started with all the RAZR Maxx and RAZR HD models. This again would be kind of a sidestep move from the Bionic hardware wise, it's not a world of difference, although the RAZR seems to be getting updates much quicker from Motorola than the Bionic is.
I've been frustrated with the Bionic on and off and I almost want to agree with the replies above that tell you just to run from Motorola, but really as many mistakes as they have made with this phone, there isn't a whole lot else on the market that is doing any better -- at least not in this price range. If money was no problem there would definitely be a few better choices for you. But for under $200, the Bionic is pretty evenly matched with anything else you're going to get at that price. The physical device itself is great. All the features you could want. It's just getting a bad reputation because of the way Motorola and Verizon have treated this phone. The phone itself didn't do anything wrong. Even the data drop issues seem to be software related, it's not the actual phone causing the problem. It's a good device and once they get the software updated this device will still be relatively competitive for a while.