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The following is a list of tips & tricks that I've come across that make cell phone use easier. I will edit this list as more tricks are discovered. Please post yours in the comments section!

Never Enter Your Voicemail Password Again!

Create a contact in your cell phone called Voicemail and set it to SpeedDial #1.
Set the Contact's Phone Number to *86 + [2 Sec Pause] + [Your Voicemail Password]
The 2 second pause can usually be found by hitting one of the softkeys, and is sometimes called a "soft pause" or "timed paused."

Now when you want to check your voicemail, hold down the #1 button (or dial 1 + SEND) and it should call your voicemail and enter your password for you at the prompt automatically!

Find a business, check flight status, and weather with Google SMS!
You can use Google to find local businesses by sending them a text message. Send a text message to 46645 (or G-O-O-G-L) and in the body put Business Name, City, State or Business Name, Zip. In a few seconds you should receive a text message back with the business's address and phone number.

You can get the status of a flight by texting flight + [Flight Number]. For example, flight aa 2110
You can get the weather of a current city / state by texting weather boston.

There is a long list of tips that you can do with Google SMS here. This is especially useful for those of us that do not yet have web-enabled phones.

Send custom ringtones or wallpapers from your computer to your Verizon Cellphone
You can send your own custom-created ring-tones or wallpapers from your computer by emailing the mp3/jpg file as an attachment to [your phone number]@vzwpix.com. So for example, if your cell phone number is (603)555-1234, send a text message to 6035551234@vzwtext.com with the file as an attachment and you should receive it on your cell phone. This only works with phones that can receive multimedia text messages, and you may get charged extra if you don't have a picture messaging plan (probably $0.25 per message).

Get Flight Status Updates Sent to your Phone!
Whenever picking someone up from the airport, I always register their flight number on flightstats.com to my mobile device. Whenever their flight status changes (i.e. it lands or gets delayed), a text message is sent to my phone letting me know. This is extremely useful when you're waiting in the cell phone lot or don't want to leave for the airport until your buddy's flight departed.

Chat With Someone via SMS over AIM!
If you send an IM on AIM to "+1[PhoneNumber]" without the quotes, it will send a text message with the message to that person. They can respond via SMS and it will appear in your IM window.

For example, send a new IM to +16035551234 if your phone number was (603) 555-1234.

Note: If you are outside of the US/Canada, I imagine you'd want to get rid of the +1 and instead use your country code (e.g. +446035551234 if your cell number was UK based). I cannot confirm if this works outside the US.

Free 411!
You can call 1-800-FREE-411 and get directory service without paying $1.00 (or whatever it is they charge you these days). On some numbers they will connect you automatically for free.

Backup Your Contacts Automatically (Verizon Only)
If you go to www.verizonwireless.com, log into your account (registration's free if you don't have an account), and click on the "My Services" tab, and from there go to "My Contacts", you can set up the Backup Assistant program which will automatically backup your phone's Address book on a nightly basis in the event you lose your cell phone.