I'd be more excited if it wasn't Palm. I mean... it's Palm. The same company with their craptastic sync software. The same company that has to keep borrowing in order to stay afloat. And the name... 'Pre' ? Really? 'Pre' ?
Then you have applications. How many devs are going to be pulled away from the iPhone or Android to mess with this? Probably not many.
I don't know, I just don't get it. What am I missing here?