Given the economy and tough times, we only had monetary means for one upgrade. My wife previously had the centro, now she has had the Pre for over 2 weeks and this is the feedback she gave me.

Cons.
1.No SMS forwarding- not a biggie but still would be nice to forward txt mess.
2.No Emicons- not a biggie for me, but she is upset about the lack of the feature.
3.Landscape mode can only be used for 50% of the tasks.
4.Keyboard. Although better than the centro, the weight distribution is something you have to get used to, esspecially when your laying down and texting.
5. Ringtones. Now way around this one, major setback for those who really want to make their Pre unique.
6. No alert light. Very frustrating. You have to power up the phone just to see if you missed anything.
Given all that, I assume some of the lack of features will be fixed with constant updates.

Pros
1. Non intrusive alerts- The ole' txt/task interruption when you are on your phone is quite annoying. With the pre, its just a simple small icon on the bottom that acts as a reminder. Well Done Palm.
2. Multi Taskin. WebOS is incredible. Listening to Pandora, while your banging away on an email, or surfing is amazing. (Wife has yet to go back to the my centro, I think that is one of the main reasons why)
3. 480X320, Enough said.
4. Camera. We find the picture quality to be quite good. Its not impressive, but does take good pics.
5. Design. The oval curved edges make the phone very "handy"

After couple weeks with the phone, wife told me she will keep it. The learning curve has worn off and she feels comfortable with it. However, if the updates do not improve some of the drawbacks, then.....