I've also been looking and waiting for a dual sim android for quite a while. I purchased an Acer DX900 in May 2009, which was decent. But it didn't take long to start realizing how poor the battery life was and then it started hanging (Win Mob 6.1), the Wifi stopped working ($400 to repair it here in the Philippines -- no thanks!), etc, etc. I will not easily by another Win Mobile phone.
Like some of the posters here, I live and travel in Asia all the time, roam on SIMs from 2 countries and use local SIMs when in other locations. I often travel with 2-3 mobiles and a slew of SIMs. I'm American and my countrymen have no clue about the incredible need for multiple-SIM phones outside the 2 yr contract locked world that is the US!
I've used a Blackberry-like Cherry Mobile over recent months which is really decent for what you pay for it -- dual GSM SIMs, Wifi, some basic built-in java apps -- all for about $100.
But I really want the added Smartphone features as well. I am very reluctant to pay another hefty price tag again -- paid close to $600 for the Acer and it barely lasted me a year of decent usage -- so the Motorola Glam looks attractive but it's priced too high and has the limitation of CDMA only slot.
Waiting, waiting, waiting...