I waited in line on the 11th for 7 hours and walked away with my 16Gb black iPhone and I am happy with it. Sure, I have many of the same issues that others are having...random crashes, restarts, lagging etc... but I know that Apple will address these issues in a firmware update so I will just remain patient for a while longer.
Here are some impressions:
GPS in my area (a suburb of Stockholm) is sketchy at best. It will lock on to my general location but will not always zoom in to a precise location. Again, this might become better with a firmware update and really, i don't use GPS that often to be concerned.
The black plastic casing is a fingerprint magnet and i knew this when I purchased mine so I can't complain. I put an IS on my phone but I really don't like it so I amy remove it and purchase a SwitchEasy Capsule rebel case for it instead. i could probably leave the IS on and use the case as well. Not sure if I'll do that yet.
The curved back really is nice. Most of my friends who hated on my 1st Fen iPhone commented that the new iPhone looked thinner.
The speaker: All I can say is wow! What a huge improvement over the original iPhone's speaker! the sound quality is the most noticeable difference but the volume is also greatly improved IMHO.
The screen: Again, IMHO, I don't think the iPhone 3G's screen is as good as the original's screen. The 3G's screen seems harder to see when exposed to direct sunlight. I may be mistaken though and unfortunately I have no way of confirming this as I sold my original iPhone a month before buying the new one. (at a profit hehe, bought it for 400US and sold it for 450US).
Fit and finish: I've been reading a lot about other's iPhones having uneven screens, light leakage, cracks etc... but I've checked mine for all of these (under a blue light for cracks) and I don't have any of these issues with my phone. Guess I got lucky.
Call quality: I should first point out that I am not on a typical iPhone contract. Here is Sweden, we are able to opt for an EDGE contract for calls and sms messages and add an unlimited data package to that. My contract is for two years at 33US per month with the unlimited data package also at 33US added onto that. I paid 164US for the iPhone (in the store on release day). So...I am not using 3G for calls, text messages or while surfing unless I am in a WiFi zone and Telia gives me free access to all of their hotspots. Call quality on EDGE with the 3G phone is very good and I would argue better than the original iPhone. I constantly have 5 bars and never get disconnected when going through tunnels on the subway like I did with the original.
Battery life: Again, since I am on EDGE, I disabled 3G and my battery life is simply superb. With heavy usage, it still lasts me a full day or more and I usually don't use it that heavily. My commute is 1.5 hours to my university (one way) and I always play Backgammon with music playing in the background the entire way and the battery meter is still full when I arrive at Uni.
Camera: Honestly, I would NEVER use the iPhone's camera for any pictures worth keeping. I have a Nikon D300 DSLR that follows me everywhere and the iphone's camera is only used for "fun" and usually temporary pics that i might send to a friend etc... The iPhone is a iPod/phone with a camera not (like Sony Ericssons or Nokias) a camera with a phone and music capabilities. I've had both a SE W800i and a Nokia N88 and I could never imagine using either of them the same way as I use my iPhone. Web browsing alone makes the iPhone so much better than anything presently out there and yes, that includes the N95, Touch Diamond or SE Xperia (or whatever it's called).
With all that said, I will admit that there are areas where Apple could improve the iPhone. A camera flash of some sort would be useful even if I don't use the camera that often.
MMS? Nope, who needs it! I really don't see a need for it and think that it is a highly overrated function that should be kept off the iPhone. But tethering would be nice to have (now that Netshare is MIA again).
Better bluetooth would also be useful to those that use it. I don't but that doesn't mean full Bluetooth shouldn't be there. It should.
A front-facing camera...yup, it's needed and should be there.
That's it and for those that just received their new iPhones, congrats and I hope you enjoy it as much as i am enjoying mine.