I picked it up today and this is what I think so far:
Ups
1. Multi-tasking. I thoroughly enjoy the interface and how I can not only have multiple applications open, but can get to any one of the open apps with a stroke here or there. This reminds me of alt+ tabbing in Windows or hitting F9 on the Mac. Furthermore, I can IM or SMS from a single application. The SMS are threaded too which makes it even better.
2. Physical keyboard. Okay, the keys might be small, but I like that they have a physical keyboard. I've tried the virtual keyboard on the iPhone and the Instinct and liked neither. I sent a few texts and IMs today and you get used to the keys.
3. Importing contacts. What's great about this is that you can import all your contacts from your gmail, aim, and facebook (probably more). Best of all, it automatically merges redundant contacts. So it will automatically link my buddy John Doe's Facebook and Gmail contact together.
Downs
1. Music player. Although the Pre syncs with iTunes it doesn't seem to play anything I downloaded from the iTunes store. I'm sure that's some DRM thing and I do know how to work around it, but It's still a bummer that I have to go through the trouble.
2. Crappy browser. Sometimes when I'm web browsing it will freeze. Not the whole phone, thankfully, but the browser that I'm using. Luckily it's easy enough to close down the app and reopen it. I may download opera this week and see if that solves my problems.
Update: Opera is currently unavailable for the Pre. 3. IMPORTING CONTACTS! It really is love hate with this feature. The Pre doesn't automatically merge my already existing phone book with my facebook contacts unless they have their phone number in their profile (and seriously, not many people do that). Ultimately, manually linking contacts isn't all that bad. However, not being able to delete Facebook contacts is. I have over 400 people on FB and I probably talk to 30 of those people and only desire to talk to around 10 of those folks. Eventually, I'm sure Palm will fix this, but right now it's annoying scrolling through 400 co-workers, friends from elementary school, and other randoms in my address book.