I have (deep breath):
An iPaq (3850), the Clie, a Palm M505, an HP Jornada 720 and a Handspring Visor Edge. So I've used offerings from all of the major suppliers.
I use an extensively 'jacketed' iPaq for work, and the Clie after work (because it's smaller and it gets more 'oohs'. Yeah, call me shallow). Because both sync with Outlook on Exchange Server both at home and work (at home I also have an Exchange Server which updates from the office server) it's a very flexible solution. I also have a Sony digital camera and the Clie accepts the Memory Sticks and I can look at the pix on a bigger screen. The Clie is for me definitely more of a toy.
Apart from that, I usually take the Jornada if I'm travelling in place of a laptop if it's for a couple of days abroad. I can (at a pinch) use stuff from home or office with the Terminal Services Client which ships with the 720 - apart from that it does all the emailing, documenting and spreadsheeting I could normally want on the move. Once again, I have the 720 cradles for both home and office so I can sync from either location.
The Palm software is not as flexible as PC2002 if you're a contacts fiend - fewer fields are available and I've found occasional problems in syncing with Outlook. The other issue is that of the Outlook XP 'virus protection' which (but of course) interferes with all non-MS sync software, including Palms.
Generally speaking, the expandability of the Pocket PC range is what wins out in a hobbyist/geek/business situation. If you're simply a networker who wants to organise their contacts, jot down a few notes, a Palm is all you need - they run longer and cater for a simpler need better.