This is likely the biggest news story of the yearthat is, that Apple is launching the App Store. I think it's pretty clear by now that the iPhone 3G was simply an updated iPhone 1.0.
The app store will immediately make this into more than a phone; it's going to be a mobile computer. Finally I and many others will be able to leave our laptops behind on short trips and such, and still remain perfectly productive. Some of the apps will be so revolutionary in what they will allow us to do that I think within 5 years from now, people will wonder how they lived without all these things in their pockets!
I'm currently working on an iPhone App of my own, but I wouldn't have the foggiest about making an app for any other phone on the marketnot even the fabled 'instinct'. The App store is a more important feature than 'copy and paste,' than 3G, than GPS, than a touch screen, etc.
The fact that people and companies will be able to publish iPhone apps on a dime will make this thing revolutionary!