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On paper & hardware
The Mogul has: a QWERTY, many buttons
The Touch has: 128MB of RAM & smaller sexier form factor.
But your real battle here is a contest of stability, in which the Touch is currently winning versus the many issues the Mogul has.
128MB of RAM would sell many before ever hearing about the rest of the phone & it is the star attraction, next to stability & bluetooth. All of Which the touch has.
I say the Touch.
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