Why, exactly, does the OS/Platform being open source make Android more attractive? You have plans to go modify the platform and redistribute it? Doubtful.

I've not had any problems with the "restrictions".

"etc" is not a reason.

To answer your question: probably not. But thousands of people will which will result in thousands of aplications for this platform. Anything you think you have in WM will be available in Android. Just wait a couple of months.
I've been using an HTC Touch cruise for almost a year now, satisfied with all the good things WM has to provide, ashamed for so many features I have seen on the Iphone for more than three years ago and on Android and that Microsoft has done next to nothing to keep up.
In a matter of fact, I bought my HTC, flashed with manila v.2, because of it's GPS capabilities and cool looking menus. But all this is thanks to HTC and where the HTC designed GUI ends an ugly 20 year old windows 3.1 GUI pops up.
Simply put, to answer Saijo's question about which would be my pick between an iphone, a HTC HD2 with WM 6.5 and a HTC HD2 with Android 2.0: A really cool looking, intuitive, modern HTC designed GUI running over an OS that really knows how to take advantage of it's hardware.

Definitely Windows, the customisations far surpass the iphone and android. Iphone and android don't even play nice with Exchange.

I use a WM phone because my work uses all WM devices (we write software for them). However with more and more moving into the cloud, and Microsoft being less innovative than independent developers - SPB and Pointui are LEAGUES ahead of MS in terms of interface design - I will seriously have to be impressed by windows mobile 7 to get another phone. Andrid looks amazing, is fast and microsoft have done what exactly since android came on the market? Tart up their existing product - not good enough for consumers!!

I like WM because it can run efficiently on even a low end system, because the quality of applications available with WM is'nt matched by either i-phone or Android and because I find the Stylus useful not only for drawing/paint applications but I feel that typing with it on the on-screen keyboard is faster and easier.

I also find the multi-tabs in say SPB pocket plus far more convenient than a memory hogging widget based interface.In fact I like SPB pocket plus more than their Mobile shell because using it's 7 tabs I can get access to 7x6x6=252, reasonably sized icons of various applications/settings, in just one tap, from a single line on the today screen.Tell me which widget based interface including WM ones like PointUI & Mobile shell, let alone the iphone or android, give me this functionality.

I am presently using an HTC P3400i phone, which has a 200MHZ processor and 64MB of RAM and I am fully satisfied with it's performance.I have all the applications I need which can do much more than the iphone or the android systems. I have both SPB pocket plus & mobile shell installed(Which I keep off but turn it on when i-phone chaps try to show off) along with Resco keyboard, Ftouch flo for Kinetic Scrolling, Houming file explorer extension, Wktask ,MSS Converter,My calculator, HNH Soft English dictionary, Agenda One, Today agenda,a text to speech software,Resco Explorer & Photoviewer 7beta, pocket RAR, Adobe reader, Flash 7 ,Nitrogen, iContact e.t.c. not to say pocket Word, Excel and 25 odd games including the likes of "machines at war" from Isotope.

I have a simple question can the Android or Iphone OS run as efficiently on a cheap phone like mine and give me the same level of functionality if so then I am an immediate convert otherwise I'll wait for them to become more mature.

P.S.: I prefer eating Ripe/Mature Mangoes (WM) to Raw Apples or Oranges.

P.S.2 : My biggest demand from Microsoft is to make the default keyboard such that it can be resized conveniently by say a toggle button(small-large-fullscreen), on the keyboard itself(The larger one for daily use with fingers and the other two for heavy duty typing). Others like tab based interface for today screen, multiple today screens, kinetic scrolling, improved alarm functions e.t.c. have already been implemented by handset makers like HTC .

Well, why do I still use WM?
1.: I wrote some apps for WM which I somehow grow used to, and even though updates became a bit rare recently (private time schedule...), it's a bit hard to abandon them after so many years... (And somehow, I also don't like the idea to trash the money spent for VS2005...)
2.: I customized WM to my needs with PocketPlus, phoneAlarm, MortButtons/-Script, and several other 3rd party apps.
3.: iPhone is way too expensive and restricted for my needs, and I sure won't by a Mac just to be able to write an own app. Android on the other side has just become mature, new devices are currently annouced seemingly every week. If I'd take one now, I might regret it the upcoming week. Yes, it's that way with every electronic product, but I think it might be a good idea to wait until there's a good selection and some "standards" not defined by Google filtered out. (Like, which screen sizes are common? Which device buttons might be helpful? etc.)
4. Syncing is still a bit troublesome with the competitors. I don't like neither bloated programs that want to know all of my song and video files (iTunes) nor sync everything to some "cloud" in the 'net and back again. I know HTC offers an own tool for the Hero, let's see what else will show up...

Why I don't think I'll use WM in at most half a year?
1. After seeing how it could be, developing WM apps is even more frustrating. Device and WM version incompatibilities, no API support for supporting different screen sizes, outdated chaotic APIs from Windows 2.0 times (esp. for graphic handling) or none for your requirements at all, ... Not to mention that crap named Marketplace (even if my apps would not violate restrictions to allow user friendlyness even though bad APIs, I wouldn't spend hundreds of $$$ to offer Freeware)...
2. Instead of making a clear cut, WM 6.5(.x) just makes everything worse. UI becomes more inconsistent, and so do the APIs.
3. I'd love to have a phone(!!!) that doesn't randomly "eat" my SMS before I can read them or crashes when a call comes in. WM6(.*) is a makeshift solution build upon a makeshift solution relying on another makeshift solution. The only stable thing in WM is the PDA kernel - but sadly neither the phone part nor the UI.
4. There already are loads of Android apps, while WM loses more and more. And the devices become more attractive as well.

What could make me change my mind?
WM7 with an entirely new system architecture that allows a stable phone integration. Restructured APIs with easy support of everything required on such a device (at best, native and .NET, but .NET alone might be OK as well if it's not just another bad makeshift). At least a free SDK for VS2005, much better a free IDE (e.g. support for VS Express). A compatibility mode for old apps (with all risks and stylus requirement...). An entirely new GUI that doesn't trash the advantages from almost 10 years like free plugins for the home screen. Why the hell did they do that weird dumbphone emulation in WM6.5 instead of a home screen with Widgets like Android's, which is even closer to Win7's desktop?