I really wanted white when I got the iPhone 4, so I'm getting this one in white! I went with 16GB on my iPhone 4 and I have run out of space a few times. I don't want to risk it again so I'm going to get the 64GB.
Black, because it's cool. 16GB because my last three iDevices all had 16GB and I had plenty of room. Occasionally it will fill up, then I just delete all the crap I don't need. Right now I have 6 gigs free on my iPhone 4, with 400 apps installed. I don't store music on it, but my wife finds 16 gigs plenty for hers. Most media I just stream. I record lots of video, but don't store it locally. With iCloud there should be even less need!
I can't pre order, have to wait until Nov, but I think I will get the 16gb. I have the 32 now, and I consistently use less then 16gb. I'm not a huge music fan, only have like 1500 songs. And it will be black. If they offered other colors like blue, I would do that. The white just seems too bright to me.
I originally ordered a white 16GB but canceled and changed it to black. I just didn't see myself being happy with white over the long term. 16GB just because of costs. I wanted Applecare+ and $400 all together was just to much. My 16GB iPad 2 has been plenty of room and I don't see myself packing videos on the phone like I do the iPad, plus I'm hoping games aren't as large as well.