Full Review

Well, I don't need to go in detail what an iPhone is. I'm sure Apple got their message accross to many Americans and probably even to many people in the very remote corners of the Earth.
The phone has everything you can think off, like Apple says, however they don't say what the phone doesn't have.
I will quickly summarize the gadget, for those who want to read about it in detail, feel free to read below.
The gadget is missing some copy and paste feautures. How nice would it be to send the exact same message to 12 different people in different emails. Just copy and past. Well not in iPhone. What happened Mr. Jobbs?
The battery life... Well, not the greatest, but I believe my phone is not lasting as long as it should. If you have iPod and you are on a long trip, use that. The phone will take a lot of battery for music, so save the battery for more important features. My battery lasts about 4 hours of usage. About 10-24 hours on standby. That is very short, I will need to contact Apple and find out about it. But expect to get what I'm getting on standby for talk time (~10 hrs).
Durability is also good. I've already dropped my phone several times, it takes impact well, somehow, it manages not even to get a lot of scratches.
Ringtones: Nowhere will you find in options about adding your own ringtones. You sing well, and want to use it as a ringtone? I doubt it would be on iTunes, so how do you do it? Well its easy. Select the 30 seconds you want as a ringtone (from what I understand, it will only let you have a max of 30 seconds). Save the file as MP3, WAV or any other music format. Use a converting software to convert it to AAC. Find the file extension that says name.m4a, change it to m4r. Add it to iTunes Ringtones, sync, you got a ringtone. Same for other songs, even purchased on iTunes.

IPHONE INSURANCE: This device is not cheap, and ATT protection plan will no longer cover you. What do you do? There are several companies that will insure your phone online for 10% of its cost, I believe its annualy. However check with your insurance agent. I heard GEICO will insure this as a personal protection plan, however when I called them, they wouldn't do it. But State Farm will. I believe their cost is ~$30 a year. Maybe its $28, but its under $35. Full coverage, no deductable. Unbeatable. I am with my local home insurance, that costs me $15 a year for my device. Same policy. So check with State Farm if you need to insure your item.

The Phone:
I've had the gadget since December and I am enjoying its capabilities. The sound quality is excellent. After having used Motorola RAZR V3, iPhone is certainly a good transition. There is no overpower noise inteference that you will usually hear on the other cheaper phones. Its LARGE buttons on the screen make dialing a very easy task, even when you are driving. The contact list is also much better than seen in any other PDA phones. A lot of room to enter information about contact, choose the way it will sort them, and you are set to go. The very nice feauture of this phone is the caller ID block. There are some cell phones that have it as well, however, they will only do it per call. That means you have to set it to block everytime you need to make a call. iPhone, however, will keep this setting until you put it back to display ID. It is very convinient if you have some people you need to call, but don't want to give away your number.
And I don't think I need to explain how nice the visual voicemail is. Very simple to use, it makes voicemail a new revolution. Just scroll down to see whose message you want to listen to and click on it. The message will play. You want to call that person, but don't want to look through contacts? Well, just click the big green button "Call Back" and it will call that number. Deleted a message you didn't want to delete? Don't want to listen the whole menu options to find it? Just click "deleted" button and the messages will appear. To permenantly delete them, there is also a button for that.
The recent calls displayed on the phone include every call that has been recieved or missed. Red calls are missed black are recieved/made. If say Steve Jobs called you 5 times, it will display his name 5 times, rather than show it only once with the time he called last. A convinient feature, that Motorola seemed to skip on their RAZR project.
The only unfortunate option is the ringtone volume. I have to say, sometimes it would be nicer if it would go louder.
At last, the GSM ready unit, is ready to travel the world, if you travel with it. No matter where you are Except for countries not using GSM or EDGE, you will find this device ready to talk when you are.

The iInternet:

This is probably the best feauture of the toy. It doesn't get any better. AT&T has signal almost everywhere. That means wherever there is that magic cell phone signal, you will have your internet at hand, with full safari browser capabilities. Need a restaurant number look up? Need a car rental number look up? Go to google, google, find it, and if it's a 10 digit number, it will be hyperlinked, and click on it, the phone will call that number. No need to write it down or memorize it, just click. Its simple. It doesn't stop there. Email, movie, online radios, online banking, paying bills online, Ebay, etc... all can be done through iPhone. The downside is it will only let you have 8 pages open at a time. So manage well.
It gets better. Thanks to many developers, including Apple, there are internet softwares that you can "download" (really you are using them one time or add them to your favorites or even save them as a button to your desktop) 3rd party applications. Currency converter, online radio, mileage tracker, online games, calories, dictionary, home mortgage calculator, and the list can go on... Anything you want, I gurantee they will come up with it by the time you take the iApple out of the box. Frequent email checker? Don't want to type the address in the address box? Save the page to your desktop. It will appear with a web page's logo and name, click on it, it will take you straight to the web site.
The internet operates on EDGE or WiFi. WiFi will be as fast as your home computer. You will see no difference. You have cable, you will have cable performance, you have T1, you get that performance, you have DSL, well you can guess on that one.
EDGE however tends to be little slow. I would say with a good signal, you will get a DSL speed, maybe a bit slower performance. It is actually pretty fast, considering everything you get with it. If you are into a weak signal (Underground parking garage, University hall, with cement walls) you may have to wait few extra seconds. But the operation of such device is incredible.

The iPod:

Not much to say here. This is no different that the iPod Touch or even iPod. Layout is different, way better than traditional iPod screen. Very easy to use the library. The music is organized by letters, so scroll to the letter you need (Similar to iPod scroll letter option by turning the wheel).
The sound, however is improved. Comparing it to my iPod, the sound is much better. After you listen to iPhone, you don't really want to listen your iPod anymore.
The headphones apple gives you work excellent. Good sound quality. There are better, but note this. The iPhone headphones come with a mic (which you can also get separately if you set breaks, or gets lost). You can be listening to your iPod/phone, you get a call, music will fade out, the call will come through, you answer it and speak right into your mic. You finish conversation, hang up, the music will restart where left off.
However, if you are looking to buy new headphones, the headphone jack will fit any 3.5 mm headphones, but the way Apple shaped it, you will have to have a narrow head on the headphones, otherwise they will not fit.. There are extensions you can get, but just keep this in mind.

iPhone Mail:

Very nice to have. Very much like Entourage or Outlook, this mobile email is on the go feauture. Not a lot of options, but everything you need to send and recieve mail. This is also what's used for picture messaging. If you have Google mail, .Mac mail, and several other, the servers already known to iPhone, enter your username and password and you are set to go. Hotmail however doesn't work. There are ways to get around it, I am still working on mine.

Extra Feautures:

Calculator, its nice, no doubt

YouTube: way to go Apple. Heard a song, want to hear it again, but don't want to buy it on iTunes. Go to youtube, and you are set. Same for videos. Want to see a video on the go? Youtube it is.

SMS: Very nice layout. Your message replies appear green. The other parties are grey. The only negative part about it there is no picture messaging via SMS. The only option is to send your picture via iPhone Mail. Which works well, however, if you don't have a POP3 account, that would create a problem.

iTunes: not much different than your computer's iTunes, but its nice to have it mobile. You can get a 30 second preview of a song, just like you can on your home iTunes. Like a song? Buy it. It will download it to your iPhone. Next time you sync, the song finds its way to your iTunes folder on computer.

Calendar, Weather, Stocks, Clock, Notes are all nice. Weather has to have internet to operate. Enter a myriad of cities around the world to check weather either in C/F. Clock: you can do the same for time, check time any place on Earth. No internet required. You can also set A LOT of different alarm times, sounds and when they go (weekend only, M, T, W... or always...)

The best of the best: Google Maps. I don't know how many times I've used this little helper, but it always worked. And now, ATT added a current location tracker. Now it really works like a GPS. Not always working in small cities, as it goes by the closest cell tower, but in all large cities, this works right to the foot. Click from current location, it will locate you and show you the map of the place you need to go, chose its best route, by traffic, weather, etc.. This saves you from buying a $400 GPS unit. And, you can take this on your bike ride, walk, perhaps even hike. Without carryin a 12V battery.

Camera and Photo Album: Yes its got those. I am still in process of figuring out how to zoom in when you are taking picture. So far, haven't been able to find it. But the picture quality is GREAT. Do not listen to anyone who says iPhone's cameras are terrible, thats what I've been hearing. Its 1 MP camera takes almost as good of pictures as my 6MP Sony T9. Very impressive. You can also add your own pictures to photo album to be played later on the go.

Overall, the device is amazing. There are so many features, that will satisfy any user. If you are beginner, there isn't much to learn. If you are a professional cell phone user, you will find this device quite unique.

I would strongly recommend purchasing it, despite its heavy cost, its worth it.