I have the captivate and yes, text on it is not as crisp as on the droid or droid x. But is it an issue, no. On really light colored backgrounds like white or light grey, if you look hard for it, you can see some fuzziness. But on colorful backgrounds you really cant see it. I can tell you, its a beautiful screen. Overall it looks better than the droid x, which has been described as dull or drab. The colors on the S-AMOLED really pop, and the fact that its an OLED means that black backgrounds are really true black (complete absence of light).
In my opinion its the second best display available, second only to the iphone4 display.