Motorola Droid Razr or iPhone 4S
This is an incredibly subjective question and it totally comes down to personal taste. If there's something about, or a killer feature on iOS that you want, then it might be worth it. But in general, both OS's offer very similar features, but also a couple of very independent ones.
A mobile software transition is tough if you're very invested into your current phone/system. If you're not, then there's no reason not to try it out, but it's not necessarily "worth" switching if you enjoy where you are currently.
It really comes down to what OS you want to use. iPhone 4S is not so much about the hardware but the ecosystem. If you like what Apple has to offer, go with it. Droid Razr is more about the specs, if you want a somewhat future proofed phone with Android, then go for it.
This is the kind of question that is best answered by you after trying both phones out. It's tough for us to tell you what you would like.
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IPhone 4S advantages: Better Camera including image stabilized 1080p video, Higher pixel density display and non-pentile so better text and color reproduction, better battery life if not affected by IOS 5 battery issues, and Siri.
Those are the pros of each that I can think of off the top of my head besides the obvious Android vs. IOS ones. Since they both don't have replaceable batteries, the lower battery life on the Droid Razr could be problematic from experience with other Android phones.
Personally, if you are looking at a phone on Verizon, I would wait for the Galaxy Nexus to be released and check that out rather than the Razr since Ice Cream Sandwich looks like a significant upgrade to Android. It will eventually come to the Razr as well but I believe Ice Cream Sandwich works better with dynamic on screen buttons although it does support the legacy fixed buttons as well.