I've had my new iPhone for almost a week now and I keep asking myself: why didn't I get this before? Quite simply, the product is better than expected. Even if Apple releases a second generation model tomorrow, I don't regret having taken the plunge.
The syncing of my contacts and calendars is seamless (unlike my Treo experience). The maps feature is pretty terrific, especially with the locating feature in the latest software upgrade. Critics have observed the AT&T Edge network is a bit poky for Internet access, but it works well enough, especially since I don't do most of my surfing on the iPhone. For a quick lookup of something while on the road, it's fine (though I'm sure the 3G model expected later this year will blow it away).
The one major drawback I have encountered thus far is that my To Do list doesn't migrate onto the iPhone in an easy manner (but then again I haven't yet tried the Leopard approach to Tasks, which is built into Apple Mail). I still have to connect my school e-mail account on the Exchange server to the iPhone, but hopefully that shouldn't be too hard.
I downloaded some video shorts, the Star Wars: Clone Wars animated series, from iTunes to watch in small doses while traveling. I've also bought about ten ringtones via iTunes.