Whew! Took me a couple of hours to read the entire thread! 
I guess they're still calling people on their client list. I received a call last week from LV Client Services in Irving, TX, explaining that my Neverfull IKAT should be turned in for store credit/ exchange. Since the bag is no longer available, the rep offered the original purchase price, minus the sales tax. She added the offer has "no expiration," however, I'm planning on taking it in in a couple of months since I'm not ready to part with her just yet.
I will update my experience once I get to the store and sort it out.
Thanks everyone for the post about their experiences!

I guess they're still calling people on their client list. I received a call last week from LV Client Services in Irving, TX, explaining that my Neverfull IKAT should be turned in for store credit/ exchange. Since the bag is no longer available, the rep offered the original purchase price, minus the sales tax. She added the offer has "no expiration," however, I'm planning on taking it in in a couple of months since I'm not ready to part with her just yet.
I will update my experience once I get to the store and sort it out.
Thanks everyone for the post about their experiences!