I heard the same thing, but when I talked to two separate reps over the course of the last few weeks (post 2/1), specifically asking that question, they said that if my Imagio broke once more they would replace it with a TP2. In fact, I even went so far as to ask the rep about replacing w/nexus, and he said it may be possible if I have any more issues. I got my phone back in Nov, so I don't know what's up. That being said, I've found that if you simply hang up, and call again you'll get another rep and 9 times outta ten, they won't say the same thing as the first.
If all else fails, bi**h until your face turns blue
PS:
AFAIK (and correct me if I am wrong), VZW offers a 90 new replacement warranty. After 90, you get a "like-new" for 1 or 2 years, depending on your contract. That being said, HTC will replace it with a new unit for up to a year. So, I would think that if you call HTC (assuming your outside of your 90 days) and whine about how VZW won't fix it, HTC just may. I would suspect though that going through them would require being phone-less for a period of time.
PPS: I FREAKING HATE THE LIKE NEW PHONES. I've had two thus far (one went back immediately) and all of em sounded like a blender in vibrate and light leak around the screen etc etc etc. It's complete BS.
Sorry, I had to get that out.