The ROM isn't perfect and Bluetooth needs some work, but having 128 MB RAM makes a huge difference with anything else. It reminds me of my old F-S Loox 720 which also had 128 MB RAM and was an incredible device (and VGA, and about the same size). WM 5 and 6 do need the extra RAM if you're a "power user". Specially on Phone Editions, that have less free RAM than pure PocketPC.
About WM 6, well, HTML for emails is only supported for Exchange mail as far as I know. I'm not seeing any HTML on my HTC Touch. But if you want/need it, it's much better to use QMail; anyway QMail it's so much better that I no longer use Messaging.
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HTC Touch HD | HTC Touch Diamond | F-S Loox N560
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