I'm slightly disappointed. The iPhone 4 is a beautiful and high quality device, but I have never liked the way the square edges feel in my hand. I would love to see a return to the 3G/S curved back design.
I disliked the square design until I started using FaceTime regularly. The perpendicular edges make it trivial to prop the phone up vertically for a call. I don't think it's a coincidence that the design changed when FaceTime was added.
The iPad has the SmartCover to prop it up. Also, given its size, I don't think it would be a good idea to try to stand it on it's edge alone no matter how square it was.
I have found it 100x better in stands and the like, and really like the grip compared to the rounded edged phones (I have huge palms and short fingers, so that may be related to it).