Some thoughts on your points:
5. A 2 Megapixel CCD is better than or equal to most smart phones on the market today. The N95 isn't necessarily iPhone's direct competition. You'll notice it was absent from Apple's comparisons between the iPhone and other smart phones.
4. Battery life hasn't been a problem for me yet. It typically lasts a day, and that's using the phone's networking features more than I normally would, from all the people who want to play with it. YMMW, of course.
3. 8 GB has allowed me to store quite a bit on the phone, including various music videos, a full-length feature film, and the last 6 episodes of Heros. Because I manage all this through iTunes, I can specify that it only keep the last few unwatched episodes of the series I watch, and automatically remote the ones I've already watched from the phone. It works well. Sure, it would be nice to have a memory card slot, but the phone does well without it.
2. Designing any mobile device is a series of trade-offs and compromises. There is no getting around that. Leaving out 3G in this first generation of the phone made sense for several reasons, including decreased battery life from the higher draw of the available 3G chipsets, and the lack of broad 3G support on AT&T's network. Sure, it would be nice to have, and I'm sure future versions will have that.
1. Non-removable battery has proved to be a non-issue so far, at least for me and other iPhone owners I've talked to. The iPod doesn't have a removable battery either, and if it freezes, you hold town two buttons, and it forces a restart. Same with the phone.
Bottom line is that it's impossible to build a device which is all things to all people. When you design a product, especially software, you have to limit its feature set to something manageable. This is especially critical in the first version. You have to stick to a limited feature set, test and debug it, then ship it. You get feedback, feature requests, bug reports, etc. and you use that to guide your work on the next release. MS Word 1.0 didn't ship with all the functionality it has today. It evolved over time, as the iPhone software will.
I think this is a great first effort on Apple's part. There are quite a few things that need work, including Mail, but they are things are can be resolved with software updates. We'll see how they do.
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