I'm about half way watching the iphone section of the apple keynote. The delivery by Steve Jobs is amazing - he is selling it to me big style (not that it needed much help). Up to that point I'd only seen pictures, and it looks sweet.
The features have a real wow factor though, and the whole interface, with scrolling, cover-art, accelerometer (which had me) but SMS and pinch - jesus!!
The fact that it all syncs so easily with the Mac (you'd guess) and that it has OSX. Glad I got my yahoo! Mail account before the mad rush
Also watching some of Leo's MacBreak videos,