If its less than 1 year old, not rooted, and shows no obvious physical damage, they will exchange it for a working one. Just call VZW customer service. They will have you go through several trouble shooting steps first, but in the end if everything checks out, you should have a working unit by the end of the week.
FYI -- They will just send you the phone. No battery, No battery cover, no SD Card, No Charger. Just the phone.
Be very sure to send the bad unit back or you will be charged.
Good luck!
Edit:
OOPS! I just saw that you are rooted and running a different ROM. If you can SBF back to stock. If you can't you may be SOL on a warrenty replacement. As soon as you root you void your warrenty.
Again -- Good Luck.
If all else fails -- When/if the Bionic is released several people will be selling their old phones including me. So look for a flood of used phones on the market in the near future. If you get stuck you may be able to pick up a used phone on Ebay/Craigs List.