I have had my touch for about a week now and I must say I am very satisfied.
This is my third PDA phone - having had a I-mate Jam and an Orange SPV previously.
The touch to start off with is a good looking device and a lot more slender than my previous phones. The basic today screen is very welcoming and the ability to customise easy launch programs from this screen is an excellent addition. The device flows better than any of the previous as well.
The touch flo bit is perhaps a little gimmicky the phone contacts and the new music player are probably the most useful part of it. The addition of an easy one touch flight mode icon is also excellent (especially for frequent flyers like me!)
So if you've had a PDA phone and have been looking at envy at your friends with snazzy standalone mobiles, the touch could be just what you are looking for!