My thought keeps turning to form factor. The iPhone has more "high power draw" features than any Treo; same goes for the Blackjack (in fact, the Euro version of the Blackjack adds WiFi to HSDPA, quadband GSM, and bluetooth) and on specs they far exceed battery power of the bigger Treo. Even the high capacity battery version of the Blackjack leaves you with a device half the thickness of a Treo.
I'm tired of the apologists for Palm. There is just no excuse for their lack of innovation in face of the WM5-WM6 devices out there, and now the iPhone. No single device has gotten it 100% right yet, but many are in the 90% category. Palm is lagging back in the 80's (%, although that could be decade). No Palm OS HSDPA device; no WiFi devices at all; double thick and half the features.
Many around here think I'm just a Palm basher like Surur takes down iPhone, and that couldn't be further from the truth. I started with an original Palm Pilot eons ago, but in effect, save for color, Palm hasn't advanced the ball much past OS 4. I know the folks who inspired the original could/should/are capable of great things that would put the current crop of converged devices out to pasture. However, they come up with Foleo and head the wrong direction. It's just frustration, pure and simple.