If Jobs' ego doesn't get in the way, my guess the iphone will look an work quite differently than what you saw at its announcement. I think the biggest drawback is the "by the weay, there is a cell phone in here". I hope Steve realizes that many customers want an eas-to-use cell phone incorporated into their PDA+iPod. Such things as a keyboard, easy import/export of contacts via the Mac or PC, phone works no matter what mode you are in, touch screen that works with fat fingers like mine, etc, and a full internet/email capability will be very important.
Although I am very happy with Cingular/ATT here in the Portland area, I probably will not buy an iPhone since 1) I do not use an iPod, 2) I do not do video downloads, etc., and I rarelyuse the phoro capability. I am very happy with my Treo 680.
MamaMoose