Software and UI wise this iPhone will have a promising legacy. But the hardware implementation leaves a lot to be desired and early adopters will by hurt by bleeding edge of technology. I think that the major killer will turn out to be battery life - especially for a cellphone and ones that are coming up to ta year old.

However there seems to be minimal attention paid to the lack of 3G (AKA UTMS). New smartphones (with their lacking UI) already have 3G and mine even has HDSPA (or whatever the 3G.2 acronym is). The iPhone has none of this. This may save battery life but restricts it to GPRS download speeds. This is not fast enough for Google Maps showing off. Unless you happen to be near a wireless access point that you have access to and an account with you will simply not be able to find your local Starbucks using the iPhone in the way that it is designed to. Not that you can fail to find a "we put less coffee in your coffee" Starbucks with your eyes shut and too much cash in your wallet but...

I predict fanboys will buy lots of iPhone v1 but v2 will need some basic improvements for the savvy to consider switching.

Oh and this will be one phone that you WON'T be able to use inside a case. You will scratch and crack the screen without protection and we all know how strong the market is for cases. Put a case on this puppy and you can't make calls without taking the case off. Try doing that in a crowded street while running for a late appointment. Duh.