+1. You forget how amazing the screen is until you put it next to, say, a 3GS. I recently showed of my iPhone 4 to a friend and when he pulled out his 3GS, both his and my jaw dropped.
Seriously. Looking at the pics online just doesn't do it justice. Actually seeing it in real life just leaves you astounded. You can read every word on MacRumors homepage without zooming in on the phone.
To me though, the HD video capability seems pretty underrated. Sure, it's mentioned, but no one really credits it for how amazing 720p filming on a PHONE, really is. There really is nothing else I need on a phone, except more storage of course. With 64GB, I'll never need anything else from a phone.