The slider's slider is orientated wrong. The clickwheel would be the "outer" part and the keypad would be the reveal, so the positions of the wheel and the pad should be reversed from where they are now. Also, vertically stacking letters is a general no-no, especially lower case ones.
The PDA is showing redundant controls with the play/pause button on the clickwheel and on the screen.
I also agree that the camera should be centered, and where are the speaker and microphone?
Overall though, just an uninspired design that doesn't offer much new other than a phone-like interface clunked ontop of an iPod.