The white looks fantastic in real life - and is especially stunning in photographs - and I was seriously tempted when I bought the P3s. However, as I travel a lot, and much of that travel is work related and happens in poorer countries, flashing something a bit striking (if gorgeous) struck me as perhaps a bit excessive, in the circumstances.
Hence, not without an inner wince (for the white really is beautiful), I took the sensible option and bought the black, which is lovely, and (fortunately) nobody it notices it at all unless they look very closely at it.
I'll concede that if most of my life and work took place in western Europe, I might have been tempted by the white P3. Having said that, I preferred (and bought) the black iPod classic, not the white one.
I'm intrigued by the white atheistic of the B&W as well. Ironically, I own B&W computer speakers and Zepplin Air but use Bose for their noise canceling technology. I may one day pick up either a P3 or P5 once I understand more on what's the difference. I'll probably end up getting the black one as well even though I'm drawn to the white one.