Second, in my experience, people react to it with a "So you're a DIY-er, huh?" That is, people are aware, however vaguely, of the opensource/hacker vibe that the brand carries. I'm not sure if that's what you meant by "what it says as a lifestyle accesory," but I think it is.
(Btw, you had your +1 at "Jay-Z mentions...")
Up here in Mass, I tend to see Android devices being carried by unpleasant, street hoodlum types, which I guess to be a consequence of and reinforce the "iPhone knockoff" image associated with them.
This is exactly how it was with the Danger handsets 5-7 years ago, simply because they were great for power-texters, had a camera and were way, way cheaper than BlackBerries. And yes, as a result they were great for conducting street business -- don't be all shocked if that's true of Loopt as well.
I love my Nexus One. I love the Android platform. I wouldn't say "I love my Android", because it doesn't make any more sense than saying "I love my Windows" (whereas a Mac user would easily say "I love my Mac", as the hardware and software are a deal package).
The "Droid" brand is starting to change that, though. People are referring to all manner of Android phones as "Droids". It's a name that is being used to refer to both the platform and the hardware. I could easily see it gaining the same kind of brand mindshare that the iPhone and Blackberry brands have.
But I've never heard anyone say "I love my Android", people talk about how clever it is, but the brand doesn't seem to resonate nearly as much, and it's not as clear what it says as a lifestyle accessory.