Ok, I've been using this puppy for a week now, and I've a few thoughts to share.
First off, I get what all the hoopla was about. If you are a social monkey, and I'm working on that, a smart phone is an easy and very convenient way to stay connected. But get yourself a good data plan 'cause you may find yourself spending not a trivial amount of time using it. I'd say that the iPhone meets or exceeds the standards when it comes to smartphones. Don't quote me on that.
The touch screen is marvelous, aside from the thumbprints I get all over it. Everything responds snappily, and of you are used to typing on a cellphone, getting used to the touch is relatively painless.
The camera is only two megapixels, but proves that megapixels aren't everything. Even without a flash, the camera takes very nice, high quality photos.
The voice recorder is sound, and like everything else, works with no hassles.
The phone call quality is also top notch. Though I would hazard a guess that this is in part due to my phone company, as well as the iPhone's quality.
I've stayed away from the paid-for apps, choosing to stick with the free stuff. The iPhone has an email client, so I was able to plug in my gmail accout information. I downloaded several apps: facebook, echofon (Twitter), a PDF reader, a radio app (CBC), foursquare, and tumblr. Aside from echofon, all of them were free, official apps. They all work as expected.
Something to note: Always read the ratings and comments before downloading. I avoided what turned out to be dodgy apps.
And in downloading these apps, I ran into my first peeve: The keyboard's keys are a bit too close together, namely the spacebar, enter, backspace, shift and alternate (key used to get access to numbers and special characters) keys. Not always irritating, but especially so when the enter key is a hard enter, causing you to send a text half finished, or posting something before you are done. Most of my other "fat-finger" moments are saved by a really intuitive auto-correct feature.
My other major pet peeve is in the apps... If you are makin an app, do everyone a favour and make sure your app has both portrait and landscape capabilities.
Other than these pet peeves, everything has worked out well.