Most definitely the 32G model for me, one thing Iv'e learned over the years, you can never have enough storage. I typically don't tend to fill mine up, but I like the security of knowing its there when I need it and with HD recording I figured more memory was a good thing.
Cloud computing and storage in this day and age is a help, but sometimes that extra bit of memory in your hand is like two um, well two extra thumb drives just waiting to be used.
What I'd really like to see in future iOS upgrades is the ability to share memory between i devices.