Don't get a WebOS phone because the hardware blows. Plastic screens and tiny hardware keyboards are no fun at all. However, I agree that WebOS is hands down the best mobile OS out there. In terms of ease of use, multitasking interface, notifications system, and even development, it's not even close.
I wouldn't say the hardware blows. It's not perfect by any means, but I think it's comparable to the competition. The screen is nice, but I apply a Skinomi plastic skin to any phone so it's all the same to me. The keyboard's not bad, better by far than a virtual one, but it's not really good like a Treo or Blackberry either. The battery/usb compartment door is hilariously shoddy. No idea how that one got in the finished product.
There are some great things about it too though, like the slider up top to mute the phone (standard Palm feature). And whatever flaws it may have with hardware are made up for tenfold by the Touchstone. As far as user experience goes, that simple item makes phone ownership so much better than you'd intuitively think. Before I got it I thought "do I really need to spend money on something that makes me not have to plug my phone in once a day? How hard is that really?" Now I think I'd gag if I ever had to plug a phone in again.
But really, the joy of using that OS is worth almost anything. I can't really explain it other than to compare it to owning a Lexus. It's a total experience that's greater than the sum of its parts.
Since phone companies all have 30 day return policies, get WebOS first. If the hardware isn't an issue for you, keep it. You can get another phone if it is.