I'm hoping to win Chris' Blackjack so I can determine if I prefer the keyboard out like that all the time.
But, I'm also thinking you're right on. I'm actually kinda tired of the slideout keyboards. They're a pain sometimes. But I'm wondering if the front facing keyboard is better? I haven't tried one out, so I'm not really sure. I know that I've played with the Treo 650's, and didn't like them at all, but that's also because they were Palm-based devices, and not WM.
That said, back to the HTC Kaiser, I'm not sure I like it. I'm not sure on a device that small that it's necessary to tilt the display up like that. Plus, I think HTC needs to concentrate on ironing out bugs in their current devices instead of pushing new ones to market. Between hardware issues and software issues, they're really starting to drive me nuts. At least, that's been the case with their recent crop of devices at any rate (Wizard, Hermes, and all the others that I haven't owned). The HTC Typhoon is the only device I've had by them that didn't give me a world of problems...and now that I have mine fixed, it's why it's my back up phone (although the WM2003SE aspect of it is killing me).
It will be interesting to see what happens with it.