1) If you had it to do over again, would you buy iPhone 1.0, or wait for the next generation?
2) What would you advise your best friend to do? What if they had to switch carriers?
3) If you could afford to, would you give one as a gift? Ditto on the carrier issue.
1.0 definitely has some kinks. The first model I had had broken wifi so I had to return it. Last night my calendar reminder went off and the alarm sound kept beeping with no way to turn it off.
But other than minor quirks, I love it. Plus Apple will just keep updating the software to make it even more bug free assuming the hardware doesn't die. (but that's what Apple Care is for!)
If I could I would buy one for each member of the family b/c after playing with mime they all want one.