My latest gadget is a camcorder as well, the Sony HDR-CX100 AVCHD HD. I haven't been doing the incessant gadget purchase thing for a while now (I had to get rid of crates of gadgets when I started moving again and I now see it as dead weight) but this is on sale on Amazon now for under $3oo. I was going to just get a flip to play around but if I ever got into video (I want to try my hand at some stop-motion animation) I'd probably want something more capable soon, and hopefully this will be good enough to not need an upgrade.
But I also feel the same way as the last two posters about the iPhone, it's not just my favorite PDA/Smartphone (and I've been using them since the old B&W Palm days), or my favorite electronic gadget ever, but it's flat-out my favorite toy of all time.
I wouldn't feel the same way about the iPod touch, even though it's essentially the same but without a phone, because I don't want more than one gadget on me at any time (I don't even want a watch) and if it isn't a phone I'll have to carry a phone as well. That all of the games and apps are always with me actually got me back into playing games. I hadn't been gaming for years but now I'm playing Civilization, Fifa 10, Driver and a host of other 2000-era PC quality games on my phone while I wait in the car etc. I've always had smartphones with apps and games, but the iPhone was the first one that had enough usability to build enough of a network effect (iTunes userbase kick-started) to develop the market for the apps I can now run on my phone. There's no other phone where I can play games like that, so it wormed its way into my life as my only current Apple device, and in typical Apple fashion it forced me to switch my music library over to iTunes. I hadn't ever done a music library switch to another software and iTunes on PC is an abomination of software, so that should give you an idea of how much better the iPhone is over its competitors for me to cede my music to iTunes.
Of course, I am rooting like hell for the open-source Android platform to supplant the draconian iPhone platform, but right now they have such a head start that I think I may have to wait up to five years to see that happen.