wait a minute, i am confused here steve. werent you onstage a month or so back telling us how magical and revolutionary it was? so what is it?

Honestly, I'm still not convinced...

Obviously there are some places where touch screen is useful, like hospitals and restaurant point of sale devices. The ability to clean the surface with a wipe of a cloth is a big bonus.

However on mobile devices with a little screen I find it more of a frustration that a benefit. The screen it too small, and fingers are too large! Unless the icon you are aiming for is 10% of the screen size, you can't see the target because your finger is in the way!
This gets even worse when you're trying to select text. Have you tried selecting text on an iPhone? You can't see what you're doing, and thanks to the wonderful, everything must have it, hyped up capacitive touch screen, you can't even use the edge of your finger nail to afford a better view!
I use two phones. One is touch screen, one isn't. Guess which one frustrates me the most with it's user interface?