I have the Alltel V3c.
Call reception/quality: Very good. I hear its one of the best CDMA phones for that.
Camera: Thought it would be good since its 1280x1024, but it doesnt focus very far/well. Best for closer pictures like 3-10'. And theres no flash. I dont care about cameras on phones anyway (maybe in a few years when they rival my digicam).
Bluetooth: Not familar with it. I use a USB cable to connect it to my computer.
Hacks: Many. Check out MotoModders and the Motorola section on HowardForums. Be prepared to read a lot. It matters a lot if you got a Verizon or Alltel (see below).
Ringtones: I'm not sure about Verizon but with Alltel all you need is Mobile Phone Tools v4 (about $25 off Ebay) or possibly P2k (free, but doesnt work as well IMO). I dont know if MPT converts mp3s to ringtones but there are some programs out there that will turn it into the 30 second ringtone. Simply transfer it to your phone and you got your own custom, free ringtone.
Now, Alltel vs. Verizon. Big difference. Get Alltel one if possible. Many Verizon users flash their firmware to Alltel. Verizon greatly locks out parts of the phone including Bluetooth (stock VZW only allows Bluetooth for use with headsets, hacked and it can be used for transfers). I also hear the VZW firmware has an absolute horrid interface that is crappy and slow. Alltel has the default Moto interface (very nice IMO). There was also battery life issues with VZW firmware but they may've fixed that. Battery life on my Alltel is excellent.
If you get an Alltel one you need very little or no hacks to transfer custom wallpaper, ringtones, get pictures from the phone, etc. For that you'll need a Bluetooth adapter or a USB 2.0 mini-cable and Mobile Phone Tools. No modding required. But there may be some useful hacks for Alltel phones still (haven't had much time to look into it for mine yet).
For Verizon you can flash to Alltel firmware or do misc hacks like seem edits to get more functionality out of the Bluetooth and whatnot. Again, the interface on VZW might compel a lot to flash to Alltel.
For games, unfortunately both the ALltel and VZW run something called BREW instead of standard Java. BREW seems to be a DRM-heavy version of Java. If they ran Java you can get packs of games and transfer them to the phone with no problems. TMK, the Telus (Canada?) and Bell firmware for the V3c uses standard Java. I havent checked lately but they havent been able to hack BREW yet nor have they found a way to flash to Bell/Telus firmware. But I'd imagine they wil eventually.