Like the G1, the i7500 is T-Mobile only for now, and the specs haven't changed from the first announcement. Having passed this hurdle, the i7500 will likely start production soon, though who knows when it'll actually show up in stores—Boy Genius suspects it might be this coming November. [Boy Genius Report]
Depending on how the third party software keyboards evolve between now and then, I might look into replacing my G1 when this phone comes out. I vastly prefer a D-pad over a trackball (worst input device ever), and the screen sounds like it's really good.
I was thinking about the Magic, but I'm going to pass on that one because it's got the same lame 128mb limit for installing applications, which is just blatantly unacceptable these days when I've got 16gb of storage plugged in to the microSD slot.