There is a discussion or two about the SGP5 on the android device forum.
I like the size very much but the screen resolution and PPI made me steer clear of it personally besides the price. $219 now is rather ridiculous.
The screen on the Ipod Touch 5 is fantastic but I'm not sure I like the size. My HTC smartphone is 4.3" but it is a bit too bulky. Guess there isn't anything perfect to tell the truth.
I think Walmart has the SGII without a contract available, at least a week ago I saw the display saying as much. BUT at the nearest store to me, the clerk told me some guy bought all they had left. Guess I know what his plans are for them.
The updrade to the HD was well worth it to me, no regrets at all especially after doing a trade in.