I purchased a Virgin Mobile Android based phone, the LG Optimus:
http://www.amazon.com/LG-Optimus-Prepaid-Android-Virgin/dp/B004LJ8N78I have used a very cheap bottom end Virgin handset quite successfully around the house a few years ago, so I took a chance that a data phone would have acceptable service here.
The main attractions of Virgin Mobile service are twofold: no contracts, and dirt cheap service. 3G service for Android (no limitations stated) starts at $35 per month, with 300 talk minutes included. The closest comparable Verizon package would be close to $100 per month. I want to stick my feet into the shallow end of the smart phone pool before committing to an automobile loan like payment for two years.
My initial impressions:
Considering I am in a rural (exurban) area not very close to a big city, 3G reception seems decent. Most web sites come up slower than on my DSL connected desktop but it's not terrible. I can get OK reception from inside rooms in the house (IE, read the NY Times on the toilet. No, not really, that's disgusting, but I did try it from the bathroom.

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FUSSY, FUSSY, FUSSY in all respects. Especially the reliance on the finger tips as an entry device for a keyboard. Android is a full Windows or OSX or Linux like desktop OS and while the screens are scaled back in complexity to what you can cope with in a tiny form factor, it's still challenging to get right, and I am not particularly fat-fingered.
The speed of the device is extraordinary from several aspects. Time to start is VERY quick compared to many feature-phones now on the market. The speed of activities like browsing and the accuracy of its voice recognition (you can speak a navigation command or you can speak a URL) is VERY high. Overall in terms of the hardware platform I am flabbergasted. Even a cheap instance of a smart phone like this is a high quality, functional device.
I think that smartphones as they are right now are DOA for seniors and anyone else with manual dexterity issues. This will improve as larger format phones come out, and aspects of the UI are further refined.
I got the hang of everything in terms of the UI very quickly just from reading what people write about smartphones. IE, to zoom a web page or certain other content, you pinch or spread your fingers apart; you drag content to scroll it.
I think Peter Gibbons has given me some instruction on smartphone compatibility issues with respect to web sites. The main issue I see with respect to web sites that are not designed specifically for mobile use is that such sites are essentially not very usable. IE, imagine an entire web site displayed in a 2.5 x 3.5" space. I find that a web site designed with fixed pixel width is particularly crippled. Some normal web sites with non fixed width do tend to flow along the margins of the smart phone display and are far more usable.
The WAP version of this forum, as Peter noted, does not display URLs that are embedded in post bodies.
GPS functionality is FANTASTIC. The device gets a very fast, very accurate lock on your location and it is correlated directly to Google maps. The GPS lock is far faster than my Magellan handheld GPS. And you can map a driving route by voice or by keyboard.
Overall -
I hope I do not waste a lot of my time with this stupid thing. Mainly I purchased it to stay current with where the industry is at.
Seeing how one really works is eye-opening.
Also, business wise, I can now see why YCombinator and the whole startup scene exists. This is exciting technology. If I were a 25 year old programmer, I would have (disgusting sexual metaphor redacted) over programming one of these devices.
So the next best thing, as far as I am concerned, is to get someone who is infatuated with the tech to write your killer app for you for royalties only.
The main opportunity available here for people in our age bracket is to be a slave plantation owner to exploit the inherent business opportunities.
Seriously, I see TREMENDOUS opportunity for providing the compatibility bridges and work necessary to make smartphones wholly integrated with the business IT world and with the needs of consumers. Even now. I was constantly running into web sites on this phone that just don't look good in this display size. Just the redesign aspects for smartphones could keep web designers busy for years.