I am looking forward to the iPhone, because it will raise the bar for
phones.  I have considered a smartphone-- and honestly I found them
all unconvincing.  Slow, clunky and kinda lame.

The iPhone may not be all that some are hoping for, but it will press
innovation.  Look at Nokia; some interesting complex phones but
constantly changing the lines, limiting phones capabilities and etc.
They are like a good quality GM for phones-- cannot refine their
phones the way I would hope for anymore. And Nokia is my favorite
company.  Much less so is Lucky Goldstar, blaaaah, Samsung (though
some nice attempts) or Motorola.  Of course, nokia has pretty much
given up on the US market.

This said, AAPL is a riskier stock than many make it out to be.  It is
very volatile.

Oh, and I like the prospect of it leading the wireless carriers to
clean up their acts:  reasonable data plans, no more crippling of Wifi
functionality through carrier firmware and etc.