Currently this phone is at the very least head to head with the Evo 4G and the iPhone 4. There are certain positives and negatives to this phone when comparing it to its competitors: Moto-something and re-sizable widgets, though not as pretty as HTC Sense or the iOS4, is effective and new.
The OMAP processor and dedicated graphics card give the phone a rich media experience, as well as good overclocking potential. We know that the Droid's 600 Mhz processor can double its rate to 1.2 and even more, so perhaps the Droid X's processor will be nearly as capable.
Any way you look at it, all phones have their benefits and short-comings, and any way you look at it, all phones will become obsolete, including this one.
So far however, it is a more-than-viable alternative to AT&T's iPhone and Sprint's Evo.
Also, it's sexy.