No. It is good, but not the best. It's over-rated, over-priced and over-hyped.
There are better smartphones with touchscreens with better function, better camera, better designs available in the market.
If you are someone that really can use and enjoy mobile technology, then definitely. If you just want a phone and think you'd like something trendy, I don't think the iPhone is worth it. For people who work on or with the internet, they are really amazing tools!
The iPhone is extremely over-rated. Don't buy an iPhone. The Nokia E70 can do the same job and more as the iPhone, plus it has the ability to use SD cards for storage. The iPhone has a set amount of storage.
If you can afford it and you would utilize all the incredible features then yes you should buy the iphone. No other smart phone can compare it's web access, itunes, and phone abilities. While it's lack of keyboard takes some practice it totally worth it.
In my opinion, yes, you should buy an iPhone. My major reasoning behind this response is: Why not? You have the cash; you have the desire...why not have the iPhone itself?! What else are you going to do with the money? You could use it to help a starving child, but you wouldn't get any immediate gratification.