I ended a two year contract with Sprint on the 6700 a month ago so was asking the exact same question. Went to ATT store and played with the iPhone. Pretty fast internet connection, nice screen and graphics. Asked the guy these questions:
1. Can I sync it with Outlook at home? Seemed like a qualified yes.
2. Can I sync it with Groupwise at work? No
3. Push mail. No
4. GPS (I use at BT outboard) no
5. Having had the 6700, I have become an avid tweaker. Can I tweak anything on the iphone. Nope
6. I have lots of great software for my 6700. Can I use ANY of it on the iphone. Nope, Nope and Nope
The guy at the store got a little anxious and tried to steer me to ATT version of the Mogul, I think they call it the tilt but I was willing to wait a few more days till the Touch dropped on Sprint to see how it was. It's great! Does it all, has it's quirks, is fun to upload software, try the hacks that people post here, change the cube, try different browsers.
I recently made a pledge to only tweak on occasion as it was occupying a bit too much time every evening.
Good luck and you won't be unhappy if you Touch it.
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