The list so far I have seen that should of been there on day 1.
3G
MMS
Multitasking
Tethering.
Voice dialing.
3G: Apple needed a product that people could use throughout the day on one charge, otherwise it could've easily flopped. You can barely do that today with a 3GS even with the higher capacity battery inside.
MMS: That's a carrier issue. AT&T's fault.
Multitasking: Apple didn't allow any 3rd party native apps on day one, so there was no real need for this. iPhone 1.0 was solid. What it did, it did well.
Tethering: Carrier issue. (Also, this hinges on the previous 3G comment. Without 3G, there is no need for tethering)
Voice Dialing: Not necessary for day 1. Reviewers early on complained about no ability to dial a contact with one press of a button, but that complaint quickly vanished when the public used the product.
The App store being about the only item I can let apple slide on.
How nice of you.