I guess everyone is entitled to their opinions, but I'll stand by my observation that the Touch is superior to any of the PDA's I've used to date. Here's a rundown of the one's I've owned to date: Palm Pilot 1000, Visor, Palm V, Cassiopeia E-100, iPaq 3835, Sony Clie (very short time), iPaq 4150 (still own & use), iPaq rz1710, iPaq hx4700 (while more powerful than my 4150 & a much better screen, it was a little larger than I wanted to carry... and my wife got first dibs), Audiovox SMT5600 SmartPhone, iPod Touch. I shied away from the Dell Axims since they first came out, as I simply didn't like their form-factor.
Anyway, while the hx4700 does have a VGA screen, perhaps it's the PDF renderer or the method in which you navigate PDF docs (the only real reading I actually use it for, as I convert all other paperback size books to LRF for my Reader). I'm not sure why the Touch looks better to me, even at half-VGA, but I guess it's really the way in which it's presented, you can pinch-zoom to any custom level, and panning has no noticeable refresh issues... and I like the form-factor of the Touch, slim and solid without much wasted space Regarding the swipe to change pages, I don't mind this so much but some of the newer apps are incorporating the accelerometer into the mix so you simply need to tilt to change pages. If there's a great app for WM, let me know and I'll check it out.
Points well taken in regards to the battery life, I only get around 6 hours or so of use on mine before I have to charge up again... and there's no user-changeable battery. True too, unless you jail-break it, it's a little difficult to find just the right app to get things onto the Touch (Apple's way of "trying" to keeping people out of its innards). With the PDA it's so much easier just to copy things to a SD-card and pop it in... miss that little bit.
The only other truly major gripe I have is with Apple themselves; they seem to come out with an updated version every 4-6 months or so... much too rapid to keep up with form a financial perspective of the buyer and it leads to a world of buyer's remorse, especially if you just bought that 'ol 16GB Touch and a month later the 32GB came out. Didn't happen to me, I've had mine since October of last year, but I was the Apple Rep here for a short run and saw too many updated products following on the heals of "last months latest and greatest." Apple is milking people for all they can, eventually something has to give, though I know I'll simply hold out and see what's next.