Wow, reading this thread further solidifies that no matter what improvements Apple makes to iOS, not everyone will be satisfied.
First off, a lot of you widget guys are just plain ol' lazy. Widgets aren't needed at all. It takes just ONE touch to open an app to give you the same, if not more info than a widget would. It'll take you longer to get to the widget home screen you need than to open an app. And if Apple does finally implement widgets, guess what'll happen...everyone will be saying how iOS copied Android even though widgets have been implemented in OSX for years now (which I NEVER use).
Second, the overall UI will not change for a long time so get over it and get used to it or sell your iDevice if you don't like it. Hell, Windows has been using the same UI since Windows 95. All theyve done with the newer versions is add a prettier skin. The grid system is, by far, the simplest UI implementation out of any tablet. You guys forget that Apple caters to the masses, not us techies. The mass majority of people don't want to be scrolling through pages and different awkward menus just to try and open an app or utility. They want to see an icon and touch it to do what they need to do. That's it. Apple makes their devices for anyone to pick up and use without hesitation. You can not do that with any other tablet. And by YOU I mean not us techies, but my mom/dad/grandparents who are not as techie as i am.
Third, FLASH WILL NOT HAPPEN! Flash sucks period. I, personally, have not missed Flash one bit since having my iDevices. I've very rarely come across a site that I can't access because it's done in Flash. It has not changed my experience one bit. Most sites I visit use HTML5. Now this point is commensurate on what your daily needs are, but for me, it's not needed.
Fourth, WTF is "proper" multitasking? Do you not have the ablity to double tap the home button to bring up the dock to switch between apps? Why do you want multiple apps crammed onto a 10" screen? Seems unnecessary to me but to each their own.
Finally, a lot of the stuff you guys are bitching about that wasnt talked about is actually there. Apple talked about 10 of 200+ new features in iOS5. Go back and look at the screen shots of all the features from the keynote.
The only thing I wish they would have done is implement BiteSMS-like (jailbreak app) messaging overlays. It does suck to have to switch to the iMessages app to send a quick message. But that's not enough to warrant calling iOS5 a disappointment.