as it's a GSM phone (CDMA should be coming for Verizon and Sprint customers considering that Qualcomm recently invested in Handspring), Palm PDA, does SMS text messaging, and is fairly small.
It's been getting good reviews, and a color version is coming.
If you're reasonably happy with what you have, I'd recommend waiting, as we should be seeing similar devices coming. For example, Samsung has a color Palm phone for Sprint (don't know if it's available for Verizon), we should be seeing some Symbian and WinCE (Stinger) based stuff sometime this year.
There's also the Visor phone (GSM) and the Sprint CDMA phone module for Handspring. Some IWETHEY members have and like the Visor phone IIRC. Note that both modules do stick out below the bottom of the Visor.
And Sprint claims they'll have color, Java-enabled 2.5G phones by midyear (of course, you can run Java on a Palm or Handspring phone).
I'm going to wait at least six more months before replacing my phone.
You're not going to see iPOD functionality in a combined device any time soon.
Tony