Well, it's easily the best iPod I've ever owned.
The touch aspect and screen ratio is unreal. It's also very cool to flip it sideways, zoom through cover flow and select a different song that way.
Phone's ok - only really talked on it for like 10 minutes so far but no problems. The new ringtone maker on iTunes is nice. I was able to design my own ringtone.
The only thing I hate so far is that you have to delete each email indivually. I suppose it won't be a problem in the future, but for some reason they had over 500 emails in my inbox today and I had to go through and delete them one by one. Total pain.
I guess I can see where Ripper is coming from saying it's only crushing other smart phones via interface. But I had a RAZR and it's a world of difference. I love it. And for only $423.