It's a matter of personal preference and usage profile.
Me, I prefer optimized devices rather than swiss army knives but I know there are many who dream of a true all-in-one device like the EARTH FINAL CONFLICT Global:
http://www.google.com/search?q=earth...w=1366&bih=715
The tech isn't there but is not impossible.
Still, I think there will always be room for optimized specialty devices that do one thing significantly better and cheaper than the mutifunction devices. Now, whether those specialty devices are actually produced is a whole different story.