Well... Here's the update, after finding an iPad2 at a local Target store today and purchasing it. I went in to the Verizon store where I had "purchased" an iPad2 on launch-day, March 11, at 6pm. The short story is that the store manager couldn't cancel the order and refund my money. Unbelievable. I had him call customer service. They couldn't cancel the order or refund the money. Unbelievable. He proceeded to call some other corporate department, but had to call from his own personal cell phone - because "They don't allow us to contact them from the store lines." WHAT THE $&!**??!
Anyway, when they finally answered, I was directed to a supervisor who told me she had filled out an official request to cancel the order and process a full refund. She said it would begin processing in the morning, and that within a "few days", I should have the money credited back to my card. She did give me a case reference number, and a number to call back to check on the status. She also took my phone number and gave me a promise to follow up personally within a couple of days. I was also told that, "in the unlikely event that the product does ship before the cancellation and refund are processed, please refuse delivery to avoid being charged a restock fee" L O L.
So, at least this person was helpful, and gave me some assurance that this will finally be resolved. She was pleasant, helpful, and professional, and I have a reasonable expectation that the refund will be processed soon. As an additional measure, I called the credit-card company and filed a dispute on the charge, stating that Verizon had not delivered the product and had refused to refund the money thus far.
This is the course of action I recommend to anyone who has been stung by Verizon's dishonesty and ridiculous business practices. Attempt to cancel, and then file a. Dispute with your credit-card company. They'll credit the amount back to your account, remove any interest charges associated with it, and then pursue an investigation with Verizon themselves.
I now feel free of the matter, and am enjoying the new iPad2 64gb that I picked up off the shelf at Target this morning. I'll never do business with Verizon again, and neither should you.