And a few things we don't love about Motorola's forthcoming Google-powered phone.

Droid does (and doesn't) wow our writer.

The Droid is a fierce phone. Motorola's newest smartphone has a number of features that match and even best its biggest competitor, Apple's (AAPL) iPhone. It has a fast processor. It’s got a large display with almost double the resolution of the iPhone as well as a slide-out keyboard. And it’s got a five megapixel camera with flash and zoom and a video camera that renders your Flip camera unnecessary. Add to that a new sharp-edged form factor straight out of Star Trek. And the marketers have given their campaign a bunch of attitude with their “iDon’t” commercial that pits the Droid directly against the iPhone.

But is any of that going to be enough to woo iPhone fans to Motorola's new device? As I wrote in a September feature, the company has a lot riding on it. Thanks to a massive marketing push by Verizon Wireless (VZ), plenty of excitement is building for the Droid’s November 6 launch. But just a year ago there was a lot of similar hype around RIM's Storm, which was also going to take on the iPhone. Though initial sales were pretty good, the smartphone received lukewarm reviews.

Motorola's new offering will have to prove itself once the hype dies down. And with so many Android-powered devices coming to market in the next few months, it may be hard for the Droid, which Verizon Wireless will sell for $199 after an $100 rebate with a two-year contract, to stand out.

Fortune received a Droid to test this morning. I powered it up, and a monotone robotic voice uttered “Droid.” Here are five things I think Motorola (MOT) has done right with the Droid…and a couple features I miss.
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The way consumers use Apple's mobile phone (i.e., constantly) means big headaches for carrier AT&T. And more smartphones are on the way.

Randall Stephenson, chairman, CEO, and president of AT&T, holds up his Apple iPhone

At the South by Southwest music, film, and interactive fest in Texas earlier this year, the iPhone was all the rage — and not in a good way.

The device proved so popular with Internet-addicted attendees that AT&T's wireless network in the city of Austin buckled under the strain, all but shutting down both voice and data service for many customers.

iPhone users bashed the phone company on Twitter and in blogs, and AT&T (T) had to haul in extra network equipment just to ease the gridlock. More