I also remember the complaints after the 3G came out. Biggest amongst them were no copy/paste, no MMS, no turn by turn software, no voice controls, no 32GB version, no video.
Now they are ALL there! I think the iphone is becoming close to perfect. The main reason I think they didn't change the case design is it was already perfect! There was no need to change it, especially not to that ugly matte finish.
So I'm rejoicing and think the iphone now has hardly any faults. I will sing its praise!
I don't know about it being perfect. Things that it will eventually need:
-multitasking
-revamped UI
-API for integration between apps with some kind of folder structure to download and store files
-OLED screen
-HD video camera
-flash support (I don't like flash but it's going to have to be there sooner or later)
-front facing camera
When it has those things (which will probably take 4 or 5 years), it will be the perfect device. Right now mobile phones are where PC's were in the late 90s/early 2000 when specs meant everything. Eventually we will get to a place where the specs don't really mean anything because we have all the power and features we need. It will solely be about the experience.