Put me on the "sucks" side of this schism.
I bought one last weekend, and it's astounding how useless it is as an iPod or as an iPhone without the phone.
bad as an iPod:
1) 16GB is less storage than my 3G iPod.
2) no hardware volume buttons. I can change the volume of my iPod in my pocket. this? no chance.
3) video? interesting, but I've got a MacBook Pro already, and the quality isn't great anyway
bad as an iPhone without the phone:
1) no way to add calendar items. the + button has been removed from the iPhone calendar interface for no. particular. reason.
2) no Notes app. again, for no particular reason.
all for the insane price of $400.
As a serious Apple fanboy, this is the first Apple product I'll be returning since the Quicktake 100. The 10% restocking is going to be worth it, but will make sure I don't buy anything Apple hardware for a while.
The iPod touch Coming Up Short? A Thorough Analysis.