I would say return it.
I've got a Pre- and a TouchPad, so I'm not a webOS hater (love it actually). However, since you have the opportunity to return it, you should. That's what I would do if I could still return my TouchPad.
The fact of the matter is that it is virtually dead. Unless it does EVERYTHING you want it to do, then return it. If it happens to do EVERYTHING you want it to do, then keep it.
For me, the liklihood of getting document editing is gone. OS updates are probably not going to happen (at least nothing significant). The App Catalog future is uncertain. Very doubtful the Pre3 will ever see the streets in the USA.
So, thanks for joining the webOS party, but it looks like the police have come and shut down the party. Better sneak out the back with your refund while you can.