I will see if it has these features which I consider to be fundamental on smartphones:
- Much improved battery life (24 hours of standby time is pathetic)
- Much improved build quality: Extend the screen bezel out past the glass, instead of having glass sticking out past the bezel (so it won't crack the first time it's dropped from 18 inches above the ground). Don't use glossy plastic for the back of the phone... it will be destroyed within 4 months.
- Adds a message indicator light... I should be able to tell I have a message waiting without turning the screen on
- Completely redo the lock screen. Make it show upcoming calendar events, unread mail/sms/voicemail/missed call count. Push notices should not take priority over SMS messages: I would rather see that I have a SMS than know that someone that I don't even know commented on my friend's Facebook status. Something like Windows Mobile's Today screen's functionality combined with HTC Sense's looks.
- Allows you to install non-App Store apps (aka Developers can release apps on their own) without jailbreaking the device.
- Reliable 3G data connections (it's not AT&T because other AT&T 3G phones work fine... my iPhone will just pretend that it is loading the page)
- The ability to run one background app (such as Pandora) while you are using another app
- My biggest complaint: make the phone ring/vibrate EVERY TIME it is supposed to: so when I get a SMS, it should ring/vibrate EVERY TIME, not just when it feels like it.
- LED flash on camera
If Apple fixes those issues, I will pay AT&T whatever they want for the new iPhone. And to be clear, I think the iPhone is an amazing phone, but it is missing alot of important features and is not the most reliable choice.