Folks,
Both handsets are targeted for different subscribers... N80 is for the "in-crowd' who demands for gadgets, with all the bell and whistles while E65 is carrying the traditional corp. type users who focus more on fundamentals, core features. And, Rcadden, I particularly like the dedicated buttons... while they may be cluttering but I treat them as practical "fantastic four"!
I have got my N80 and love it. However, I am intending to add E65 in my collection. Sure, no 2nd camera for video call, but after played it for a few times in Italy and Hong Kong, I am done with the novelty. Most of my peers are not that enthusiastic with it even the cost is going down eventually. Regarding the flash light of N80, it is there but not helping marginally compare to some other handsets. I have compared it with some from Motorola, LG, Sony Ericsson, it appears the flash on the N80 is relatively weaker. Plus, the weakest link of N80 to me is battery life even with some claims that the current firmware offers a boost, I still want mine to last from the moment I left home till get to bed. Hopefully, the 1000mAh battery in E65 will live up the expectation.
So to me, the E65 trade-off would be fewer gadgets but more practical.