My reasons for not going for the Blue one:
1. The blue of the sgs3 looks similar my Nokia 7210 supernova, which i was using 4 years ago which I find very dull and ordinary.
2. The metal brushed finish is a waste because as soon as you hold the phone, all the impression goes away as it's just smooth glossy plastic. The fake brushed finish is under a layer of hyperglaze coating. It's just like a disguising smooth condom which looks like a ribbed one.
3. Most of the phones either have a black bezel or a white one(Pink and other colours these days). But the sgs3 has a blue bezel which looks like dark gray. Now, we all hate how the blacks on an LCD is dark gray, it just doesn't look good. On the Sgs2, the screen and bezel look like one black unit under the glass which is actually cool. But on the sgs3, the black amoled has dark gray borders, you know what I mean.
4. The glossy surface of the blue sgs3 is a fingerprint magnet. It doesn't shine as much as the white one, rather it just looks so sticky like it's a hot and humid day and makes you feel like you are holding a sticky device on a hot and humid day.
5. The 4.8 inch screen on the sgs3 is the most beautiful thing about the phone. It somehow shows itself more on a white background rather than a dark gray one.
6. The Blue sgs3 looks too simple with screen as the only thing visible. The perfect black circles of the front camera and proximity sensor adds to the beauty of the front of the white sgs3. (Personal Opinion)
7. May be the LED spreads on the white sgs3, but beautiful colours on top of a phone can never look bad. It looks beautiful. It's just looks ordinary on the blue one, nothing exciting. (Personal Opinion again).
8. The Blue one is for those who don't like the design of the phone and a darker colour somehow hides the design better. But that's not the case with me, I like the design.