[Motorola Droid X2] Peperm1nt:
I think you will WANT to SBF>Factory Reset if you wanna do the "reasons"...

But only bug noted(that I can remember anyway) is the battery jump.

TiBu will not restore your apps or data unless you are rooted. My suggestion... do a Nandroid Backup and then do provided instructions... at least this way you can go back to what you had before hand.

SBF will bring your phone to an Out-of-Box state... Exactly how you got it at Verizon.

Questions Asked:

What do I backup when I sbf?

Whatever you want. Nandroid will be for if you want to go back to what you were using. TiBu is for if you are going to apply:

-SBF to a different Android Version.

-Apply a New Rom.

Can I back up everything I need with TiBu pro?

Depends on what you are doing. TiBu is intended for apps and app data, also keep in mind to watch what you restore because you DO NOT want to restore the Settings and other system apps when you are going to a different android version(if you know the exceptions then you know the exceptions... Dragons lie ahead if you don't know what you are doing... just trust this advice).

This WILL NOT cover user configuration in the internal settings.

When I reboot my phone after sbfing, is it like getting it out of the box, but with a newer version?

Did you upgrade or downgrade? SBF is used to go back if you brick your device or need to be on a specific android version/kernel for applying a ROM. Yes it will be out of box state with a specific android version.(i.e. If you apply 2.2 SBF you go back to 2.2 android out-of-box. If you apply 2.3.3 SBF you go back to 2.3.3 android out-of-box. etc...)

How do I restore everything? Will it save app data?

Did you Nandroid or TiBu?

Nandroid:

Apply SBF to specific android version/kernel version you were previously on(you want to be on the kernel you had with said Nandroid backup). Boot into BSR/CWM then go to restore>Internal/External Memory>Restore>Wait for application of backup>Reboot.

TiBu

Once you are on a satisfied android version/kernel open TiBu and restore whatever apps you want. You get the option to restore App(s) Only, App(s) Data Only, or App(s) and Data.

Also, if it is like getting it out of the box, what happens to my verizon plan?

Nothing!! Your Verizon Plan is saved server side and is paired with your device MEID. After a SBF is applied, you can follow the initial boot and activate your phone or dial *228 at any time to activate your device.

I hope I answered everything for you sir. Good luck with SBFing...If you have ANY bootloops or crashes after SBFing do this please:

Boot into STOCK android recovery:

1. Turn device off or Battery Pull.

2. Hold Volume Down until step 4.

3. Turn on device.

4. You should see the Moto Red Logo with white text "Fastboot" at the top of your screen. Press volume down until white text reads Android Recovery.

5. Press Volume Up to select Android Recovery.

6. You should see a Blue Android with Yellow Exclamation point.

7. Press Volume Up + Volume Down at the same time.

8. Using Volume Keys, highlight "Factory/Data Reset" then press Power Button.

9. Select Yes.

10. Reboot once complete.

Side Note:

lol I'm really bored at work right now.