Chances are you've already made up your mind whether you're going to get an iPhone or not. Within minutes of touching ours, various friends and strangers either immediately wanted one or had already decided they didn't.
Power users who buy phones based on feature lists and specs are going to be disappointed. Even if EDGE is fast enough for them, the lack of GPS, A2DP, a higher resolution camera or some other feature will likely keep them away. Likewise, the iPhone's tenuous Exchange support and lack of features to deal with large volumes of email will also be a disappointment to road warriors and other email addicts.
With the iPhone, Apple didn't set out to create something that would match existing smartphones feature-for-feature. Rather, they set out to re-invent the whole idea of a mobile phone, and they succeeded. You can easily imagine what features might be added in the next model, but everything that's in the current model is executed very well. Apple has laid a rock-solid foundation for a whole new paradigm in how we interact with our personal electronics.
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For people who primarily want a multimedia and internet friendly phone with remarkably easy to use features, the iPhone stands out in front.