Holding off on iphone switch

I've decided to hold off on getting the iphone and switching to AT&T from verizion and my xv6800 windows mobile device. I've gotten a data plan on verizon to hold me off hopefully for a while. The things I miss the most (that I use on my touch) is the screen, screen, screen. I find I can thumb type as fast or faster on the touch than with my xv6800 device which has a full qwerty keyboard. Plus the interface is just smooth and extremely responsive compared to winmo. The one advantage to this winmo device (now that I have a data plan) over the iphone is gps. I used gps with google maps yesterday for the first time and it worked very well. AFAIK, you can't do this with the iphone but I'm sure that'll change soon. Does the iphone have a gps chip in it?