Why is it that whenever people think of multitouch, they immediately jump to pinch zoom? Sure, pinch zoom is cool and will appease the ipod drones, but it is hardly all there is to multitouch.
Aside from the aforementioned typing issues it would resolve, there are tons of apps that could take advantage of multitouch as well. Music apps such as drums and stuff... Emulators such as nesoid that have on-screen pads... Really, the number of apps that could make better use of the multitouch are limitless. It isn't ALL about the pinch zoom.
PS - as many people have already said... Droid DOES have multitouch. Yes, the US version. They just need to make better use of it.