LG KS20

Is this the latest and greatest phone in the market?  Has this new LG touch phone surpassed the i-phone?  I'm in the market for a new WIFI phone and the specs below are quite convincing...

The LG KS20 provides advanced mobile internet experience with its Broadband Mobile Internet, 2.8 inch Large Screen and Intuitive Touch Input, and is only 12.8 mm thick. Compatible with highly advanced Broadband Mobile Internet networks, the phone allows users to enjoy the full benefits of 3.6Mbps mobile internet, music downloads, video clips and Windows Live! content, as well as push email. Application of the 2.8 inch large screen allows you to have an easy-to-use mobile internet environment which is just the same as that of a PC screen. Also, the landscape function provides you with the optimum convenience to enjoy video clips. A completely flat touchscreen, a perfectly stylish and slim design and a fluent and direct interaction further enhances your mobile internet convenience.