It has style in spades. A large, glossy screen. Nice metallic finishes, and a small form factor that will slip into a pocket as easily as a briefcase. Not only does it look good, it works well, too.
T-Mobile, HTC, and Microsoft developed a user interface overlay that sits on top of Windows Mobile 6. This overlay is what most people will use to access content and applications on the phone. It is a very good UI, and lets you almost forget that the Shadow is a WM6 smartphone. It uses a combination of a spin dial and sliding icons to interact with the phone in a much more enjoyable and intuitive way than I've seen on other WM6 devices.
There are some foibles, though. It comes with Wi-Fi, but, shockingly, no UMA client to take advantage of T-Mobile's [email protected] service. The UMA client is a no brainer, it should have been on there. And there are no headset jacks. If you don't have stereo Bluetooth headphones, or a funky miniUSB headset adapter, you won't be able to listen to your Windows Media Player tunes while on the go. And of course it remains stuck on T-Mobile's EDGE network. (T-Mo, you really need to get that 3G network up and running.)
These aside, the Shadow is a solid little smartphone that can easily double as a daily workhorse and fashionable Saturday night phone at the same time.