I've now owned and used a smart phone for about six months. Here's a review of the experience (not of the particular phone, but of using a smart phone in general.)
The Good: Having your data and to-do list tracking super close to you all the time. Especially in the midst of a busy summer season, it was super beneficial to be able to access nearly everything I can on my computer on my phone. Taking good quality pictures any time any place has also been a big benefit.
The Bad: Being distracted. It is so easy to "have to check" weather, email, tasks list, etc. when you really have nothing to check at all. Admittedly this was an issue when I had a regular phone, but the number of "things to check" on a smart phone can be unending.
The Plan: I'm already doing this, but I'll hold to it still: NO GAMES. This is huge. Rechecking the weather for the 12th time is silly, but also harmless and easier to see the foolishness of... Games will steal your time and focus like no other.