Daring Fireball has a funny and insightful essay on the reaction of Palm CEO Ed Colligan to the Apple iPhone rumors. I go with the theory that Colligan is a savvy CEO; he's really very worried about Apple but is spinning a good story.
The part that made me laugh, though, was the footnote referencing an infamous Slashdot posting on the iPod's launch. It's well worth a read, and, no, you can't add comments.
I'm holding on to my decrepit Samsung PalmOS phone until I see Apple's iPhone or it dies completely -- whichever comes first.