I like the dpad existing. It's far easier to move over one or two spaces with it, and is nice for accurate selection if you have a few links next to each other and you don't want to poke the wrong one.
I DON'T like it on the right hand side. Combined with the chin, it forces the right thumb to reach WAY far over to hit keys. With the flat keypad, it's an uncomfortable typing experience. If it was on the left, not only would handheld game emulation be easier, but it would balance the chin on the right and create a similar reach for both thumbs.