Definitely not! I will hold onto my 16GB 1st Gen for as long as possible and get the 16GB 2nd Gen (or 32GB if it becomes available and is not overly expensive). But I would trade in my 8GB 1st Gen (purchased 2 days after the initial release) plus $100 for the 16GB 2nd Gen. And if the 2nd Gen comes with GPS and video calling out of the box, it will be really difficult to resist. The other features that the iPhone is missing (voice dialing, voice recording, MMS messaging, VoIP) will likely be addressed through App Store apps - or let's hope so. I don't like the glossy plastic idea - polycarbonate or carbon fiber (maybe hemp?) would be much more unique for the iPhone, but the metal casing may interfere too much with the antennas, so I can undestand that the rear may have to be made of a non-metallic surface.