I'm not sure how I feel about it, but yes, they are sensitive. They don't require me to touch them to activate.
Try messing around with the touch on the screen itself. It stands to reason that it's one capacitive unit for the whole phone. I could be wrong, they could have individual units for the buttons. But the screen seems overly sensitive too. When I touch a link while browsing and move my finger away, sometimes the phone picks it up as a "highlight" or "text select" action instead of opening the link.
I am hoping they turn it down a tad on the next bug update.