Here's my review of the phone so far.  For CONS that have a workaround, I inserted a *.  I'll cover them in a future post on software for the DROID.  Potential deal-breakers in red.
PROS:
- Beautiful high resolution screen
 - Smooth scrolling
 - Good implementation of virtual keyboard
 - Browser does zoom well (though no pinch)
 - Good selection of free apps
 - Good video recorder w/ easy upload to YouTube
 - Vibrating feedback works well
 - Free Google turn by turn Navigation
 - Fast processor, very responsive
 - Bigger screen, small form factor – same width as iPhone, not much longer, same thickness.
 
CONS:
- Too few screens for icons (WORKAROUND – Open Home)
 - Keyboard too flat, not that great for typing
 - No pinch/zoom
 - Wireless demands WPA2 (won't work with WPA)
 - Keyboard opens the wrong way for right-handed use
 - No assignable physical buttons
 - No physical call, mute or hang-up buttons for phone use
 - NO support for initiating calls w/ Bluetooth! (For legal reasons, Motorola has to fix this – it's ILLEGAL in many states to be using your handset while driving) (for discussion, see Bluetooth voice dialing?)
 - Music player is sub-par
 - 
- No "Browse by Genre"
 - No way to auto-sync with desktop or iTunes playlist (WORKAROUND – Manual Copy)
 - No way to speed up podcasts
 - Can't control it with headset (I have Motorola S9-HD) (WORKAROUND – TuneWiki)
 
 - Have to push top power button and then swipe to awake from sleep
 - Some widgets take a LONG time to boot up (>5 min, but phone is usable while waiting)
 - All apps start on reboot?
 - Vibrate isn't very strong, can miss calls if phone in pocket.
 - YouTube videos often give error when attempting to play on a web page or even in the YouTube player.
 - Significant camera lag
 
Check out My initial thoughts on the droid for some more cogent criticisms and newbie comments about the DROID.