Don't forget that since the iPhone's interface is almost entirely software based, a lot of the missing features that people complain about can and probably will be added via software updates. Voice dialing, ringtones, and Bluetooth enhancements are three that quickly come to mind. Ringtones is almost a certainty since it was shown on one of the iTunes tabs in Apple images related to the iPhone. Apple probably had a number of additional features in mind but not enough time to get them in before their ship date.
yes there is PLENTY that they WILL add, such as even iChat will be coming to the phone in the next month...it is all software updates thats all it is, and thats right video capture as well as MMS should make its way as well. I also heard a smaller version of the current photobooth will be on the phone soon for editing