It's here, and it's beautiful. The benefits I'm looking for in my iPhone, and they all seem to be delivered, are a sensible interface, integration with Apple applications, and ability to use WiFi to get good network performance. It's really amazing to take a device out of the box and find out that you pretty much already know how to use it well. It's really amazing just to have the internet delivered as it is in a handheld device in a readable form. And the integration with iCal and Mail works well. It's gonna be something to have someone propose a meeting at a specific time three months out and know with confidence whether that time is free or not. It will also be amazing to bring mobile appointments to my desktop with ease and confidence. It's gonna be fun seeing how much else is available in the device.
One minor point I'm unhappy about is the way that Apple has tied ringtones to the iTunes Music Store. Doesn't really seem like a "service" to me to limit tones only to music available on iTunes and cleared by the labels and then to charege an additional fee, even if nominal, just to make a ringtone. If I've bought the music, I ought to be able to do whatever I want with it. This just seems to be a craven way to make money and an invitation to people to hack the device.