Hi Maverick!
Short answer: Yes! You'd still have to go through the PEP exchange process but instead of taking the same phone just let them know you'd want to pick up another phone with a different carrier. The only thing I can see happening is if you do pick up a phone that's a little more expensive than your current one then you might have to pay the difference. Aside from that, as long as there's something wrong with your phone (and no physical/water damage) you should be able to exchange it no problem!
Ziggy
Futureshop Ancaster #77
Work Phone: iPhone 4
Play Phone: Nexus S
