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I can do it with just ONE tap.

Make sure the phone part is open to favorites.
Tap the home button once to go to the home screen.
Make sure the phone icon is on the dock.

Now..

EVERY time you tap on the phone icon your favorites are there.

One tap is better than 2 or 3.;)

nope. this is at best 1 tap.

If you weren't on the home screen = +1 extra tap

If the last time you used your phone you didn't use your favorite = +1 extra tap

so at most 3 taps... and each of these taps are in different places and don't have feedback (i.e. you can't tell that the tap worked without looking at the phone)

double tap was a guaranteed 2-tap and since it was a double tap it requires a lot less effort than 2 (or 3) taps in different locations.

It was a lot faster too. you have to wait for the little screen animations of getting to the home screen, opening up the phone. without looking you knew what screen you were going to be on (favorites).

for voice dial: this is a lot slower as well. double tapping, then tapping the person you want to call could be done before the tap'n'hold registers. then another few seconds to say who you're calling, then another few seconds for the phone to repeat its action back to you.

To the people that used this feature regularly it's a inconvenience... to those that didn't... not really sure why you need to white knight the change. you didn't use it, so you don't understand what's convenient about it. what do you gain by trying to argue against something you don't understand?

EDIT: I think the best choice would be to add "go to phone favorites" to the triple tap accessibility options. i have it set to invert colors as more of a joy button currently.
 
There IS triple-click for home.

I don't know if this is only an option for accessibility users or not. But it's proof it can be done.

Look at the last picture.

http://www.apple.com/iphone/features/accessibility.html

also. here is the picture

so, all this accessibility stuff - can i enable this on my 3g, or is it strictly iPhone 4-hardware-dependent?

i've enabled multitasking on my 3g and miss my phone favorites now too. :/
 
Solution!!!

To do all these things you need activator. Activator is a jailbreak app, and is a must have for all jailbreakers (like SBsettings and winterboard). It allows you to change shortcuts for apps and other options. For example, TO GET THE MUSIC CONTROLS AT DOUBLE TAP, you got to settings>activator>anywhere>double tap home button>ipod controls. TO GET THE IPHONE FAVORITES, its a bit more complicated. First you have to download Smartdial from cydia, which lets you change which page (favorites, dialer, history) the phone app opens with. Go to smartdial settings and make it so that the phone app opens with favorites every time. Then go to settings>activator>anywhere>double tap home button>phone app. i think a better way to do this would be to make an app that creates a shortcut to the phone favorites, and then use activator to open the app when you double click the home button. but i can't find an app like this, so i guess we'll have to wait :/
 
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