I like it...
but, they need to refine the GUI some more. As it is, it's like they've just migrated the old "point and click" paradigm to a touch interface. In other words, it's a bolt-on.
While this is fine, for now, other manufacturers have already surpassed this with multi-touch gesturing - Apple, HTC and Palm come to mind. And, if Nokia really wants to be a leader, then they'll need to either get on board with this new paradigm, and refine it. Or, invent sometime else that surpasses it. I'd personally like to see them do the latter.
What I'd really like to see is something that moves beyond touch screen altogether. Instead of actually having to touch the screen - messy, in my opinion - why not enable users to just gesture above it? Perhaps an under screen camera and proximity sensors could accomplish this.