I'm not going to dance around it. Google's Nexus One phone is pretty darn close to being the perfect phone. Awesome interface. Awesome look. Awesome camera. And it's chuck-full of Googlerific tools. If you don't mind a touch-screen keyboard, it's the best Android phone out there. (If you need a physical keyboard, then get a Droid.)
But what keeps it from being a cellphone champion is the touch-screen keyboard, which I feel just isn't as good as the iPhone's keyboard.
Another downer: You can't touch this baby before buying it, because it's only sold online through Google. It currently is sold at a discount with a T-Mobile contract, but later this year it'll be available with a Verizon service plan.