Get a Droid Incredible or even a Droid 1. As far as updates... I don't wait for updates because I rooted my phone as soon as I got it.
I am running
Bugless Beast with a 1Ghz Kernel on my Droid 1 and never have any problems with battery life or space or anything... Unless I am talking on the phone all day the battery usually lasts 2 days.
I don't run alot of widgets and bullshit like that, either. It makes a huge difference in battery life.
I have 10 apps on the market... so I know a little about Android.