This phone comes with WiFI 802.11 b/g plus GPS. It also has touchscreen with motion sensor. I just have no idea if it's like the multi-touch screen of the iPhone. It uses Windows Mobile 6.1 Professional and will be available by early 2008.
I know your drooling right now and just can't wait to get your hands on one. Save those saliva because, if my sources are right which they always are, the release of Sony X1 was pushed to February 2009. Maybe the iPhone will have the tactile feedback by then and will be sporting a 160GB storage.