Anyone seen Maddox's take on the iPhone? It is rather hilarious, as always. (I shall not link to it here, but I suspect that it can be located with any competent search engine.) In his way, he does make some valid points about how the "hype" of the iPhone has, perhaps without merit, over shone mobile telephones of comparable specification. Certainly, this was true of the Apple TV.
For me, the price is far too high, though I have yet to see the contractual offering in the UK. Even if it is offered for US prices, and these are often doubled by the time an American product arrives on British soil, I shall be disinterested. Typically, one pays nothing for the mobile telephone itself when one enters a twelve-month contract of more than, say, £30 per month (US$60) in the UK; instead the company, grateful for such a valuable customer, offers the phone for free (or certainly at a vastly reduced price). I don't know whether this arrangement will apply to Apple's newest product, since they seem to aspire to some inverted supply-demand graph, whereby over-inflated price makes the product appear more valuable and therefore demand increases. With any luck, otherwise cumbersome EU legislation will make that difficult for them. Faults such as the lack of expandability for a woefully inadequate 8 GB hard disc are also rather damning in my opinion.
In truth, I only need a mobile telephone expressly for the purpose for which it is named; to make telephone calls (and occasionally, send text messages). The only lure in an iPhone for me is that I wouldn't need to carry a separate iPod (but 8 GB, let alone four, is insufficient for this) --- though I confess, I have at times wanted reasonable mobile internet access. At a disadvantage, I could not carry a crap phone and no iPod were I travelling late at night through a rough area.