Ok, here's a separate question. Say I buy the white iPhone 4 (which I will) and have it shipped to my house. I open it, have 2nd thoughts. Will I be able to go to the Apple Store and exchange it for a black one? (with a possible restocking fee of course)
You will definitely be able to get a black one, but whether an Apple store will swap it on the spot I am unsure as it would be open already, and I seem to remember that Apple's return/ refund policies says that the product has to be returned to the original place of purchase (so send back to Apple if bought online). I think it's most likely that you might have to pay the 10% restocking fee - ring Apple care, they are very understanding.
As for this unnecessarily hard decision on choosing the colour, I was very much sat on the fence, swaying back and fourth between the two. I've had a white 3G and white 3GS since the original iPhone and loved them both. Fingerprints really weren't an issue and scratches never showed at all (the only ones I saw were on that darn chrome Apple logo- which, I'm hoping is now UNDER the glass layer on iPhone 4?).
I love the look of the white front, but I much prefer the contrasting black and stainless Steel sides of the black, and have never had a black backed iPhone before, so open to change. However, the hands on photo's of the black made me seriously reconsider when seeing those fingerprints, and quite a few friends with black iPhone's said go white. I think the black is super sleek and stylish, BUT maybe only when it comes out of the box. Once covered in fingerprints and smudges it won't look so classy. I find myself every day thinking how classy my iPad looks and thirty minutes later it feels a mess and I'm constantly cleaning it! As for colour, those who think "it's too feminine" is a reason you won't consider the white iPhone, I think you must be really insecure! It's a colour, and nobody will think you're a girl if you have a white phone!
After the hundreds of hands on videos with the white, I was almost sold, but I was waiting for a hands on video of the black, and finally found one, which has almost certainly made my mind up. Black looks great in the pictures, but on the video I felt it was boring (white is a refreshing change!) and too much like the 3GS, as well as the fingerprints being a pain.
http://www.youtube.com/watch?v=RbHgcUJkYjY
I see what people mean about the white bezel being a distraction, but i find my white iMac to be great, and strangely. I also think everything looks nicer on screen with the white around. Anyway, incase anyone else wants more help, here is a GREAT hands on gallery.
http://www.slashgear.com/iphone-4-hands-on-0788746/ 