I've come from Android phones that have suffered from lag (Samsung Moment and HTC G1) and other serious hardware issues (Moment) like radio lock ups and gps uselessness. The EVO has been great so far. As mentioned above, there are a few bugs to be worked out, but there is so much to love about the phone.
The Good:
It's fast! Only lag I've experienced is while installing apps.
Plenty of internal storage (important while no stock SD card app installation available)
Beautiful display
Multitouch screen works great
Takes very good still pictures
Better sound output quality than Ipod touch
Receive Froyo update soon
4G
Excellent phone functionality (audio, dialing)
The Bad:
Compression in 720p video capture
SD card faults
No track ball/pad - I've missed the ability to specifically place the text cursor when entering text. Until some app adds the ability to zoom in on what is under your finger in the text entry box, you'll need a bit of luck to put the cursor where you want.
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