While I LOVE the idea of buying such an amazing phone at that price, I do have concerns. With WP7 phones selling at bargain prices already, like the Radar for $49, it will start to make the Windows Phone OS appear to be the bargain basement of operating systems. I know Android offers low end devices but they also have high end devices and they are priced accordingly.
I know Nokia is just trying to buy market share with this price but you don't want to hurt the brand. It's like when Hyundai entered the American car market with VERY cheap cars. Now they've established a beachhead in the market but they are perceived as a budget brand and have been struggling to sell higher end automobiles. I hope that when the Apollo chassis requirements are released, the WP8 (?) phones will be able to stake out a position as a phone that is cool to own rather than one that you buy because it's cheap and all you can afford.
That said, if they bring something like the 900 to Verizon at such a low price, I'll have to see about breaking my contract...