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here is a list of permissions from handcent:

Permissions

THIS APPLICATION HAS ACCESS TO THE FOLLOWING:

• SERVICES THAT COST YOU MONEYDIRECTLY CALL PHONE NUMBERSAllows the app to call phone numbers without your intervention. Malicious apps may cause unexpected calls on your phone bill. Note that this doesn't allow the app to call emergency numbers.SEND SMS MESSAGESAllows the app to send SMS messages. Malicious apps may cost you money by sending messages without your confirmation.
• YOUR MESSAGESRECEIVE SMSAllows the app to receive and process SMS messages. Malicious apps may monitor your messages or delete them without showing them to you.RECEIVE MMSAllows the app to receive and process MMS messages. Malicious apps may monitor your messages or delete them without showing them to you.READ SMS OR MMSAllows the app to read SMS messages stored on your tablet or SIM card. Malicious apps may read your confidential messages. Allows the app to read SMS messages stored on your phone or SIM card. Malicious apps may read your confidential messages.EDIT SMS OR MMSAllows the app to write to SMS messages stored on your tablet or SIM card. Malicious apps may delete your messages. Allows the app to write to SMS messages stored on your phone or SIM card. Malicious apps may delete your messages.
• NETWORK COMMUNICATIONFULL INTERNET ACCESSAllows the app to create network sockets.
• YOUR PERSONAL INFORMATIONREAD CONTACT DATAAllows the app to read all of the contact (address) data stored on your tablet. Malicious apps may use this to send your data to other people. Allows the app to read all of the contact (address) data stored on your phone. Malicious apps may use this to send your data to other people.WRITE CONTACT DATAAllows the app to modify the contact (address) data stored on your tablet. Malicious apps may use this to erase or modify your contact data. Allows the app to modify the contact (address) data stored on your phone. Malicious apps may use this to erase or modify your contact data.READ SENSITIVE LOG DATAAllows the app to read from the system's various log files. This allows it to discover general information about what you are doing with the tablet, potentially including personal or private information. Allows the app to read from the system's various log files. This allows it to discover general information about what you are doing with the phone, potentially including personal or private information.
• PHONE CALLSREAD PHONE STATE AND IDENTITYAllows the app to access the phone features of the device. An app with this permission can determine the phone number and serial number of this phone, whether a call is active, the number that call is connected to and the like.
• STORAGEMODIFY/DELETE USB STORAGE CONTENTS MODIFY/DELETE SD CARD CONTENTSAllows the app to write to the USB storage. Allows the app to write to the SD card.
• SYSTEM TOOLSCHANGE NETWORK CONNECTIVITYAllows the app to change the state of network connectivity.PREVENT TABLET FROM SLEEPING PREVENT PHONE FROM SLEEPINGAllows the app to prevent the tablet from going to sleep. Allows the app to prevent the phone from going to sleep.MODIFY GLOBAL SYSTEM SETTINGSAllows the app to modify the system's settings data. Malicious apps may corrupt your system's configuration.DISABLE KEYLOCKAllows the app to disable the keylock and any associated password security. A legitimate example of this is the phone disabling the keylock when receiving an incoming phone call, then re-enabling the keylock when the call is finished.RETRIEVE RUNNING APPSAllows the app to retrieve information about currently and recently running tasks. Malicious apps may discover private information about other apps.

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• HARDWARE CONTROLS
  CONTROL VIBRATORAllows the app to control the vibrator.
• NETWORK COMMUNICATIONVIEW NETWORK STATEAllows the app to view the state of all networks.
• PHONE CALLSMODIFY PHONE STATEAllows the app to control the phone features of the device. An app with this permission can switch networks, turn the phone radio on and off and the like without ever notifying you.
• SYSTEM TOOLSAUTOMATICALLY START AT BOOTAllows the app to have itself started as soon as the system has finished booting. This can make it take longer to start the tablet and allow the app to slow down the overall tablet by always running. Allows the app to have itself started as soon as the system has finished booting. This can make it take longer to start the phone and allow the app to slow down the overall phone by always running.SET WALLPAPERAllows the app to set the system wallpaper.SEND STICKY BROADCASTAllows the app to send sticky broadcasts, which remain after the broadcast ends. Malicious apps may make the tablet slow or unstable by causing it to use too much memory. Allows the app to send sticky broadcasts, which remain after the broadcast ends. Malicious apps may make the phone slow or unstable by causing it to use too much memory.KILL BACKGROUND PROCESSESAllows the app to kill background processes of other apps, even if memory isn't low.KILL BACKGROUND PROCESSESAllows the app to kill background processes of other apps, even if memory isn't low.
• DEFAULTINSTALL DRM CONTENT.Allows app to install DRM-protected content.MODIFY SECURE SYSTEM SETTINGSAllows the app to modify the system's secure settings data. Not for use by normal apps.