Is a free iPhone 4s with only 8GB worth it compared to a $100 16GB?

I'm interested in getting my first real smartphone and saw that Verizon has a free iPhone, but with only 8 GB. I don't see myself needing too much space. I still have an iPod nano with only 4GB and I manage. I'm just not sure how much different the phone would be, since I've never had a fancy smartphone before.

Added (1). It's just an iPhone 4 with 8 GB

Added (2). Http://www.verizonwireless.com/b2c/store/controller?item=phoneFirst&action=viewPhoneDetail&selectedPhoneId=5782

There's no iPhone 4s with 8gb. Minimum is 16

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