Steve,
This is also my very first smart phone.
This phone is in some aspects GREAT and in some aspects OK.
If you are even remotely technically savvy with a computer, this phone is spectacular. The functionality far exceeds iPhone or BlackBerry in most respects. It organizes my life and keeps track of things for me. I constantly, literally, stun my friends with what I can and do do with this phone.
If you are technically very very weak, it is a little bit tougher. It is worth going through quite a few settings to ensure good battery life (unless you're going to buy a Seidio battery, which I am going to get the 3500mAh one), and worth keeping on the charger once per day (extends battery life to avoid full discharge/recharges).
It is SLIGHTLY quirky, and once in a while, if you download way too many apps or have a handful of really big ones running at once, your phone can make you wonder what it's up to.
I think this is the best phone, hands down, that Verizon has to offer. Sense UI makes using it (in my opinion) better and sleeker than iPhone in most ways. (sense UI is something the 'droid' doesn't have, but the Eris does).
I wouldn't give this phone to Grandma (but I would give her an iPhone, for example. it's a little easier). But my friend's entire family got this phone (including his non-tech savvy parents and sister) and they all love it. I sold my non-technical brother on it, as well as several other friends.
Everyone who has it, completely loves it.
Good luck with it.
And FWIW, It's a great adventure. Beware though, you will waste TONS OF TIME playing with your phone, unexpectedly. It's addicting. Don't stop paying attention to work/girlfriend/family!