Your 7 points are mostly bogus.

1. We have a family plan with AT&T and my iphone cost me $200 plus $30/mo. for the data plan. We already had unlimited text for the whole family before the iPhone for $30/mo for 4 phones. MobileMe isn't required and I don't find it a problem to synch up my stuff manually with itunes.

2. Like the camera non-issue, the GPS function works pretty well for a phone, particularly if you want directions or a route to an address on your contacts list. If you want street names and turns called out to you, use a dedicated GPS.

3. Really! Most people already have hi-speed internet access from their computers or can use a wireless connection at various hotspots. If you insist on using a 3G connection someplace, it can be done from a Mac or PC with software that uses the iPhone as a wireless network modem.

4. While cut and paste might be nice, the auto spellcheck and predictive typing work VERY well and the iPhone "learns" words and names you use often.

5. As stated in 2., the camera is really a non-issue as it works well enough for a phone.

6. Stereo bluetooth? Get real! Like the other guy said, listening to crappy sound in stereo isn't my thing.

7. Yes, a supplementary removable memory card would be nice, but no doubt Apple will add more features in future versions of the iPhone.

The iPhone is already a great mobile computing device and will only get better!

HW