I thought about it, but there are some major issues.
1. The phone doesn't sense the 8 gb internal storage for apps. This means that you use the small amount of ROM for apps, and anything more than that you need an SD card. And apps can't be fully installed on the SD card alone. 3 different sources of memory you have to worry about just sounds obnoxious.
2. OLED screen and sunlight don't play well
3. Sense. I know a lot of people think sense is cool, but I think froyo's right around the corner. And all these new incredible owners are going to go crazy when it takes HTC 3 months to upgrade to the new version.
4. The built in music player isn't as nice as the iPhone's, and I'd rather have one device in my pocket than an iPod and a phone
5. The narrower screen than the iPhone makes typing on the keyboard more difficult (but I hear the sense keyboard's pretty good and you can type fairly well - but do you see how small that spacebar is??)
6. Lack of games - the iPhone kicks ass in this category so hard. The Snapdragon's GPU sucks compared to the iPhone's as well.
7. No desktop integration. Managing the phone is a bit more of a pain when you don't have accompanying desktop software to help you out.
8. I feel like java on Android just doesn't provide as smooth of an experience as cocoa on iPhone. It's just a little bit laggier/jumpier, even with a 1 GHz CPU. See what an iPad can do with a processor that speed? It's outputting higher resolution and still the speed of the experience runs circles around Android. iPhone OS is just more optimized.
Despite all these things, Android has a LOT going for it, like nicer notifications, more capable multitasking, google voice, and the ability to pretty much install whatever you want. I just don't think it's quite up to the maturity of the iPhone yet.