The onboard memory seems to be awesome, especially that there is an expandable slot as well. I think the iPhone is moving towards that amount of memory shortly though so perhaps motivated by the competition.

Downside - battery life - is it the same sort of battery as the N95 classic? Surely this won't cut it. Perhaps they have either a) improved the power management aspects or made it more energy efficient or b) intend to release a later version with a bigger battery a la the 8GB N95? Pure speculation on my part though.

Will be interesting to see what it's like when it releases (well, read the reviews I mean!)