I was with my friend today when he got his iPhone replaced. First off, you need to go to an Apple store because they are the ones that honor the warranty. Second, you do not need a receipt, from the IMEI and Serial Number Apple can see when you activated and all that kind of stuff. My friend was having problems with his phone freezing a lot so the tech played around with the phone for a few mins before saying they would give him a new phone. He simply went in the back, got a new phone, swapped the SIM card and my friend signed a paper saying it was swapped. It took a total of about 10 minutes for everything. There was not talk about repair or a loner phone, just a simple replacement. My friend has had his phone for about a month and a half too.