The Ipaq is a nice device, but the short battery life and the lack of a built-in CF slot are real detriments. I have the Jornada and really like it. The Audiovox Maestro looks quite nice as well. And the Fujitsu LOOX with X-Scale will be coming out at the end of May. Here's my read on why I like the Jornada:
Everything the Ipaq has plus:
Longer battery life.
Hot-swappable battery with no data loss. Also the ability to replace the standard battery with an extended life battery with an advertised 24hours of continuous use. (Compared to Ipaq at about 6 hours.)
The screen "pixels" are aligned correctly for ClearType; whearas, the Ipaq can have red color streaks because the elements are apparently aligned 90deg off.
Built-in flip-top screen cover. This is a surprisingly important feature if portability is a factor to you. You can just flip the cover closed and slip it in your pocket with no worries of scratches on the screen.
Built-in CF slot. No need to add a sleeve to be able to add wireless networking or a GPS for instance.
Optional MMC/SD slot that is integrated with a replacement battery so as to not need a slider.
The Ipaqs are certainly nice devices, but these features make the Jornada a winner over the Ipaq IMHO. The biggest complaint, and it's a very valid one is the Jornada's collect dust under the screen, something that Compaq fixed with their latest models. Mine has gotten dustier, but it's not enough to bother me since I know that I'm going to do a warranty swap for a new one and then immediately sell it for an X-Scale unit.