Treb, I live in the UK and have had the grey for a week. It looks fantastic and much more 'interesting' than a matte phone. I have had a 3GS since 09 and glad to have a more 'manly' colour - metal grey just looks cool and is quite distinctive. It does feel plasticky but not in a bad way, it feels well made and is quite light for its size.
It does feel substantial enough though and is quite a satisfying piece of kit to hold. The very loud and clear speakerphone along with the stunning screen definately draws stares in the office.
I would go for grey only as I would find a white border whilst watching films or any other media a bit of a distraction, the grey makes the screen seem brighter and brings colours out more in my eyes (though I have not seen the white irl - it is what I believe would happen). The white looks a little cheap too from pics I have seen.