I was set on buyin... but after it came out, I was disappointed.
1) No 3G. - I don't think any wireless provider in USA provides 3G service at the moment. I would think Apple can easliy provide a software update later on to make the iPhones 3G compatible.
2) No GPS chip: It sucks that Apple decide to use Google maps. Built in GPS would have been better. GPS chips are cheap but I guess Apple made some deal with Google.
3) Data Speed: For $80, you get 900 anytime mins and unlimited data, which in my opinion is a good deal, but, the data speed sucks...50-90Kbps....it's like using dial-up modems ... :) I guess in the future once ATT rolls out UMTS then the data speed will be blazin'.
4) 2 yr contract: This is a hook after LNP.
5) Battery: It sucks you cannot remove battey and after 2 years once your battery runs out, you have to send it to Apple and get replacement for $80.00.
Adobe just hosted a iPhone Hacking event on July 6-8, 2007. Over 100 games/applications were developed over that weekend, and best thing is they are FREE.
http://news.com.com/2300-1041_3-6195568-1.html?tag=ne.gall.pg
http://www.barcamp.org/iPhoneDevCampSF2007
Personally I will wait for someone to unlock the iPhone, so I can buy it and not have to sign 2 yr contract. Just insert my SIM and I'm ready to go. One good thing about iPhone is, the built-in Wi-Fi. Wi-Fi rules!