It is a silly point. The term "upgrade", as I explained before, has come to have a specific meaning in the context of U.S. cell phone carriers - the on contract price (which is subsidized significantly by the carrier compared to the off contract full retail price). Verizon is trying to dupe people into believing the Edge program is a good deal by using the word upgrade in a different way than subscribers use the term. People who aren't savvy are getting duped, like the OP I responded to.
The rest of us who are savvy enough to do the math realize the Edge program is not an upgrade at all - it is paying full retail in installments - and as dpham00 worked it out for you, that comes to paying $420 more for a phone then if you used your upgrade.
All you are doing is proving my point for me. Verizon does not offer upgrades except every 24 months. The have a full retail installment plan, and they are trying to dupe people. You and the OP may not be savvy or good enough at math to realize you are getting duped, but not everyone is so easily fooled.