No one has tried it but based on everything we know, it should work. If it doesn't work then it is because we don't understand how the switch orders work on basic lines.
If you return the phone within 14 days, you are let out of both your 2yr contract and your 2yr data plan requirement so I don't see the harm in trying. Please report back if you do.
That is correct as long as you are ordering from a 3rd party retailer and ship to your home. Please see these threads at AC and SD
Also, I believe the Best Buy Method has been posted on this forum before.
Verizon is actively working to close this loophole but it will require them to completely revamp how they handle orders from all 3rd party retailers - i.e., the switch order will have to be implemented by some mechanism other than the sim card the phone ships with.
The best part is getting out of the upgrade fee!
Keep in mind that only BB and others who use BB's check out system like MM do not require you to pick a new plan and the customer agreement says keep existing plan. With any other 3rd party retailers you are required to pick a new plan and the customer agreement reflects that. However, you do not lose your UDP.
Could Verizon audit accounts? Sure. Have they ever? No.
The other thing to be aware of is that only BB (and presumably those retailers who use BB's check out system) and Costco don't have secondary etfs. Amazon and all of the other 3rd party retailers have them so you need to be aware of their terms and make sure you don't violate them and trigger their secondary etf - i.e., canceling the line b/f 181 days, dropping the data plan (which of course you wouldn't do since it is a UDP line), etc.