Good afternoon cyrus_the_great, everyone is different of course but for me 16 GB is more than I need, heck I never even filled my 8GB Omnia 7.
I never have any music on my phone though it's all streamed so no need for storage space for my music.
Not everyone has unlimited data plans of course, but I think you could get plenty of songs on your 16 GB for a good listening period before you get fed up with them and need a change.
I find browsing great in IE, suits my needs fine.
Only ereading I have done is with the Amazon Kindle app and that suits me fine too.
I've only converted 3 movies to my Titan just to see what they would look like and they were stunning, this isn't something I'd do much either but if you were maybe going somewhere for a couple of days and wanted a couple of movies on hand, that would do fine.
As I said 16GB is way more than I need but not enough for others who have to have their phone stuffed to the brim with apps and music.
I have 30+ Xbox Live games installed, and around 90 apps installed and have 9GB storage left so as you can see way more than I need.
But everyone has different needs from their phone than I do.