The HTC Touch HD looks like a fantastic phone. It has a Qualcomm MSM 7201A 528MHz processor, 288MB RAM, 512MB ROM, and a 5.0-megapixel camera. It sports a very nice 3.8" WVGA (480 x 800) touch screen and also finds a way to include Wi-Fi, Bluetooth, A-GPS, and an FM radio.
The only problem is this phone does not yet support the 850MHz band so the US and Australia will have to wait awhile.
Check out the video review where they compare it to the iPhone and Samsung Omnia. The video is in French, but you'll get the idea.
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