If I have to wait, I will. Windows Phone 7 and my Focus are good enough for the time being. If I get tired of waiting, no matter how much I love the Windows Phone ecosystem, hate iTunes, and am not a big believer in the hype around the iPhone, if time comes and I need a new smartphone, the iPhone would win me over. I like Android as a tablet OS, but I'm not a fan of it on a phone for personal reasons.
Capacitive buttons are a deal-breaker. I feel that strongly about them, that they have no place on a premium handheld device, that they ruin the experience, and that they completely ignore user intentions. I feel that strongly that I would abandon the entire ecosystem just because I can't stand the buttons.
And this coming from a staunch defender of Windows Phone and loyal subscriber to the Zune Pass for years who has never said another word against the platform. Guys, stop making capacitive buttons!