At little off topic from the current discussions, but there is one specific issue I have with any fingerprint ID system. If someone knocks you out and then robs you, they can use your fingerprint to unlock the device and turn off auto-lock. Once there, what data do they have access to inside your phone that is protected only by the Touch ID?
For example, can they remove the Touch ID without the passcode as well (my guess is not)? Obviously they can purchase a bunch of stuff on iTunes but I'm not particularly worried about that. Is there any data that can be accessed by the Touch ID alone that a criminal might want?
Also, I wonder if they will create APIs for secure fingerprint access. The iPhone can handle the verification "outside of the app" but send info to the app to permit secure access. If say, 1Password, decides to use such an API to access stored passwords (I'm not saying such an API is available but I imagine that many people will be asking for it at some point), this could be highly problematic.
What I hope to see is for data that needs a high level of protection (e.g. turning off Touch ID, reseting the phone, and other actual data) will be protected by the Touch ID and some passcode/password. For everyday stuff, the Touch ID will suffice (unlocking the phone, iTunes purchases, etc.), but sometimes an additional safeguard will be necessary in situations when a criminal has your phone and access to your fingerprint as well.