Hm mm....I do agree that Iphone got a huge selection of new and interesting  features. But it still lacks some features that sound to be  essential.
- Although it got a 2 MP camera, there is no Video recording on Iphone. We cant even send  video MMS either as  there is no recording.
 - There is no Instant Messaging feature(IM).
 - It should not be called a complete Ipod replacement,you don't have any games.
 - There are no custom ring tones, You cant have ring tones of your own. This  is one of the most lacking feature.
 - Not all Ipod  accessories and headsets will fit for the iphone.
 - It is stuck to AT&T for a contract of 2 years.
 - There is no GPS.
 - It isn't a Smart phone, people should start developing applications for  it.
 - It is not for business use ad there's no push email except for Yahoo Mail.  There is Exchange support, but it's just using IMAP access.
 - The data connection being a bit slow.
 
I agree that Iphone is one of the sexiest phone on the market, but even it too lack some features that sounds important to some people.
It was amazing that apple have sold 700,000 Iphones in the 1st weekend.

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