Surprise! After long long delays BT Option (Sri Lankan dealer for Palm and Apple products) have finally sent me my long awaited Treo replacement for my troubled unit. Old one had some memory issues having a loop-reboot.
Everything means contacts, notes, user registrations, colour theme to the ringtone you have set to a particular person gets right back on your new unit and rings right away when that particular person calls.
NB: Meanwhile I heard the news of Plam is about to release the successor to this Treo 650 here without the bulky antenna.