I too was thinking about converting from my fascinate to the iphone. Many Reasons why I will not. The refund policy with google market is way better than paying for an app and it sucks on apple. second, Rooting, IDK about making my phone faster but it allows me to make it unique, iPhones are all the same. Third, Google. I know Bing is pre installed, but I've removed that. Free email, and accounts (unlike mobileme account, $99 a year is ridiculous). Fourth Flash, when froyo comes that is. Had it on my OGdroid and was necessary for me. Beyond themes, wallpapers, widgets, you have to remember it supports up to 32 GB. Which the cost of these are going down so in no time you will have your 32 GB that you will envy with the iPhone. Mind you a replaceable battery if by chance yours needs to be replaced.
Don't get me wrong I love my iPod Touch and would love the iPhone, however using your iPhone for music and everything else would cause your battery to drain so much during the day. So as an iPod replacement and a phone replacement all in one, I just don't think apple has worked out all of it's kinks enough to support my demanding needs as a phone and an music player. Hold out buddy, LTE sounds more promising than AT&T. Android might not be a better OS than Apple, but your phone can do so much more than an iPhone. You will envy the iPhone on Verizon because it's new, but unless they offer a car to go along with the new contract they will put you on it's not worth it.