Okay, when you are all done hyperventilating, lets take a cold look at this. Its a touchsceen-only phone with gestures added. Its not all good news.
On a small phone of this size, that on-screen querty keyboard can only be so big without eating up usable screen space. And anyone who has used an on-screen keybaord - they are everywhere on Windows mobile and Sony's P990 etc, know they are not really the best for heavy data entry. So this thing wont replace your blackberry, E61 or M600i.
You'd still want a hard keyboard - and I have no doubt Apple is ready to sell you a very expensive bluetooth one that will eat up your battery life.
The rest of the device seems good - very good actually,although I'd like to hear more about battery life. But i'd say that as usual Apple has just sold a beatiful looking device that makes a questionable compromise, over which they will sprinke "Appledust" and everyone will gloss over.