I agree with that assessment. Certainly check out the device in the store. The HTC Hero is there too, so you have a real good chance to compare approaches. But like anything new, you first need to get used to it. This certainly applies to the keyboard. Even though I had the experience with the Tilt keyboard, I had a period of adjustment. At first, I did not like it as much. But through use, changed my mind and got very proficient at typing with it - even more so than with the Tilt.
If you ever follow Engadget, some of the guys there have had a similar experience - didn't like the hard keyboard at first, but have learned to like it. They do complain about the soft keyboard compared to the iPhone. Having never used the iPhone, I can't speak to that. But at least in portrait mode, I imagine the narrower screen of the Droid, results in smaller "keys". I've gotten pretty good typing with it though. I can even type one handed.