Yes, with caveats.

1.) AT&T sucks.

2.) I wish they had implemented GPS and higher speed mobile internet. (I really, really can't believe that it has no GPS functionality. To me, it's the iPhone's only true flaw.)

I usually say it's the best iPod I've ever owned (and I've owned them all so far).

Ironically enough, the one thing it's not particularly good at is being a phone. (But that's mostly the network.)

It really is an amazing piece of technology. I finally see the charm of SMS. Youtube on the move is incredibly cool. And it's the best non-lap top portable web browser I've ever seen.

Is it worth the money?

All I can say is no one I know who owns one regrets the decision.

I like this review:

http://www.thebestpageintheuniverse.net/c.cgi?u=iphone

Yeah, when they hack it for use with other cell companies, I'm buying one. But there's no way I'd switch to at&t.

It's not THAT bad a phone, Nick.

Reception is spotty.

And the EDGE network is slow.

But I haven't had to swear at it, yet.

My honest answer is the phone is the least interesting part of the device. (The random access voice mail is pretty cool, though.)

It works fine, but it's not as functional as a lot of phones that are already out there. (No voice dialing, limited ringtones, etc...) You might want to wait for revision two.

All that said, I still love mine and so do the other two people I know who have one. (Oddly enough, one of them just can't stop watching YouTube on the damn thing. I think she's addicted to Flight of the Conchords clips.)