I actually love the concept behind the Go. In my eyes it truly is the first portable system since you don't have to carry any additional cartridges around. Everything is stored internally so just pop it in your pocket. Aesthetically I think it's a design masterpiece. I'd never be seen in public with the older PSPs but the Go is pure modern slickness.
The price tag is absolutely horrendous though. Where did all the extra expenses come from? What a crazy strategy Sony's trying to employ here. Content to take a loss with the PS3, but need to make a monster profit with the Go. No matter how much potential it has, that is definitely not the way to win people over to a new, very different, system.
It's all about the game.