I'm sorry, but if you think Apple will release a software update that will incorporate things like Copy/Paste and MMS support on the 1st gen iPhone and iPhone 3G, you are mistaken. Sure, software udpates will occur to address a variety of issues but...
just think about the iPod video...let's go back in time to when the now "iPod Classic" was released in 80GB and 160GB versions. They were released with a snazzy new OS with coverflow to match the new version of iTunes, direct shuffle and was more efficient providing longer battery life. However, those with the 60 or 80GB iPod Video did not receive a software update that placed this new OS with the better graphics, new font, coverflow and direct shuffle (shuffle without going back out to the main menu --> clicking the select button 3 times during playback).
So when the new iPhone is released this summer, don't expect your phone to have the same exact OS functionality as the new version.
True but that was really a limitation of those generation IPODS. I doubt they had the power to handle cover flow type interface.
But I do agree in part that the new iPhone will have features and applications available that the previous versions will not be able to handle.
Guess we'll see!