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I've got the top of the line Dell Axim; fast processor, plenty of memory, and a 640x480 screen. Using the bundled Internet Explorer, browsing is ok, but tedious. Using Mimno, the Firefox test for PocketPC it is better. Using Opera, it is about as good as it will probably ever get.

Multitasking? Streaming MP3 off of my audio server, browsing the Internet while my e-mail downloads. Has CPU power to spare. About the only time I max it out is when I'm streaming digital video, and only on extremely jerky scenes where the camera zooms from one subject to another right after one another.

WindowsMobile5 fixes a lot of the problems with earlier versions, but I still feel some days that I'm using experimental technology. Rom updates have fixed a lot of problems, but I still have issues that crop up. None that can't be fixed with a soft-reboot, but every time I do, I wipe my Suduko score for the toughest level (don't ask me why...)

Only thing that could make it better would be a side slide out thumb board for typing, though the character recognition software is some of the best I've ever used.

The HPs have vastly improved over the last few years as well; I recommend looking at them once again if you dismissed them before.