The only true negative about the N1 that I've come across is the screen issues... i.e., OLED just not being ready for prime time, and especially the sunlight and multitouch concerns. Sounds troubling, but I don't do any real gaming on my cell phones, so I'm not toooo concerned.
Anyone know whether the screen might be better on the Incredible? If so, that would be a good reason for me to go with that. I still lean toward N1 though.