Yes, more people are chained to their phones than ever before. That's the point! The LED frees one from much of that tyranny. I've been using this phone for a week now, and I touch it and turn it on so much less now. It's been radically transformative. I put in the table for a couple of hours at a time, going in and out of the room, and only touch it if the light is on, which I've set to notify me only about the things I care about it. (It's not flashing various lights at me for every friggin' email or Facebook comment that comes in -- only the things I decide are important to see immediately.) I would have picked up the iphone and turned it on everytime I can back into the room if it weren't for this feature. Now it goes untouched for long periods, freeing me up for actual living. It's wonderful.
But you know what? Trying to convince people of the obvious value of a notification light and not having to pointlessly pick up and turn on your phone 50 times a day seems fruitless. Presumably these people don't understand the value of a vibration feature either. I can't waste further time explaining either of these things. There's a seriously strong idiot factor running through this thread
Anyway, the Android has many more advantages over the iphone than just the light. That's just the most important one. Virtually everything can be done so much more quickly and efficiently on this phone than on the iphone. The big trade off is in reliability. This Android is like a wonderful Ferrari, but it's tempermental and requires a lot of tinkering under the hood. The iphone can't do a lot of things, nor do the ones it can very efficiently, but it can do them very well and very consistently and seemlessly and it's a beautiful device.
So it's a very tough call. Part of me wishes I'd never tried this phone, because it highlights and underscores the myriad ways it's so much better than the iphone in terms of features and options. But at what cost of peace of mind and unpredictability? That is the question!