That's good. That justifies the stuff it's lacking then. Except, of course, if the iPhone's $499 price turns out not to require a contract as pricey as the Prada contract. In which case, you're still paying for that Prada after all...
The question (which I don't think we can answer yet) is whether the iPhone's cost is REALLY $499, or $499 plus a monthly amount that inflates the AT&T plan. (We do know you're committed to staying an AT&T customer for a time, we just don't know the costs.)
The key here is "in major markets." Coverage is still very spotty for 3G in the US. Thus, it makes sense NOT to make the iPhone more expensive (and power-hungry?) by adding 3D when much of the time people can't use it. WiFi (which most other phones lack) is actually a pretty good trade--far superior, when you're at a hot spot.
3G will come, but it's hard to argue with the logic of leaving it out for the US launch.
http://www.cingular.com/coverageviewer/
bah, i disagree, cingulars 3g network reaches 100 million americans... and the markets its in tend to be wealthier, younger, more prgressive, and more tech savy parts of the country... come on, more people in california, new york, seattle, chicago, etc... will be willing to spend this kind of money on a phone than in the heartland... there are exceptions of course, but iphones will be far more common initially in the same places where ipods were seen more commonly in the forst couple years