Interesting, since it is. It seems rather foolish to go on about how the iPhone is "crippled" or whatever because it doesn't have your pet feature. This is like complaining that a Honda Civic isn't a "full-fledged" car because it can't tow a trailer for your horses. Nobody cares!
Yes, such pet features as copy/paste, voice dialing and instant messanger.
The fact is that version1 of the iPhone is three years ahead of the curve in design, and two years+ behind in features. Mind you, the first generation of the iPod was quite a bit behind the curve in terms of mp3 players, but that didn't seem to stop it. iPod's had less storage capacity than the other hard drive units at the time, and still can't play all the file formats that were available to the original Creative Nomad. What it was, however, was 1/5th the size, and user friendly.
Within a year or so, Apple will have an iphone out which will have all the features that this one should have had. I imagine stuff like instant messanger is waiting for 3G, and they will implement video capture when their storage capacity goes up. Apple will continute to add features to the iphone as soon as they are able to miniturize them and keep their power consumption to acceptable levels.
On topic, the iPhone 'nano' will happen, but probably not right away. Belive it or not, there are people who don't want the internet on their phone. When Apple comes out with Revision 2 of the iPhone (Hopefully with 3G and 2x the storage capacity), they will probably also split the line with a smaller phone that JUST does phone features + plays music, with a few typical apple extras. The problem with this design from the start is that it has little advantage over standard phones like the media Razrs out there. That is why Apple needs to build its flagship line up before it comes out with it's stripped down version. Any 'Nano' phone will really not be a huge advantage over any other random cellphone featurewise, so they need it to be cooler than other cellphones.
PS. No way the phone will ONLY have the clickwheel. People would hate that. I could see a phone that opened up for a full keypad for dialing and texting, wtih the clickwheel as an option if you don't want to open it, but apple would never rely on JUST a clickwheel for the input on a device as complex as a phone.
