I am also having the exact same problem. I can make calls but am not receiving any phone calls. I tried resetting my phone and dialing *228 and following the instructions but i'm still having the same problem. Also, text messages take anywhere from 15 minutes to 2 hours to be received by my phone. I don't know what's wrong. Can somebody please help?
This problem is likely not your Droid, or any handset for that matter. This is a Verizon network problem with the Lucent technology they use at the cell sites. The biggest challenge is to contact the right technician then stay after them until they correct the problem.
To get this problem fixed you need to use Linkedin, facebook, or whatever method available to locate and connect with a System Performance Engineer in your area. Then stay on his case consistantly until the problem is fixed.
I just went through this process. It took the better part of two years - testing from a landline daily and emailing the tech every time it failed - before the problem resolved. In the end, the tech, at Lucent's direction, dissabled the cell site functional test. Since then my calls have come in reliably.
Now that the problem has been resolved, the issue and the fix are logged in their system. Other techs can look it up and find out exactly what needs to be done.