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Is instant app launch s fake feature like the original iPhone multitasking? I.e. It just saved a screenshot

No, but it's only faster in the dock. A member posted some speed tests showing that it's faster in the dock but not necessarily outside the dock. In other words, Apple has shifted memory optimization from their native apps to the apps in the dock, and it makes for a better user experience.
 
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How many apps can you have in the dock?
10 plus last used. Plus complications. Then make sure and set apps to background refresh.

Don't forget that we need to give developers a chance to update their apps for OS3 which includes more updates and more frequent.
 
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Watch OS3 will be miles better than OS2. OS3 will be more efficient and more accessible versus OS2, which ultimately had the User have to toggle to much from the home button to Glances.
 
I think it's pretty hard to tell at the moment as so many of the apps for the phone have not yet been update to take advantage of the opportunity to update in the background. Even the apple sticks app doesn't update so it's faster to get to in the doc but then it just sits and updates as usual. So hard to really tell yet
 
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