Wait for January
Here's why its still got the 2 MP camera. In the Book of Steve, expandable=bad. So no SD card slot. So you're limited by onboard RAM. Steve doesn't want you filling up that 8 or 16 GB of RAM with 5 MP pics of your friends when you could be filling it with iTunes tracks at $1 a pop.
So when RAM prices make a 32 GB model feasible, I bet we'll see that camera get a bump.
Now quite what they're smoking in Cupertino that they couldn't fix copy and paste I don't know...
The reason the Palm was such a success (and arguably the CrackBerry) is that it does (did?) the basics well. Contacts, Appointments, Tasks and Notes (and later email).
The iPhone does not yet handle Notes properly, and its too early to tell whether the Tasks are properly synched over the air (whether through ActiveSync or MobileMe)
Maybe the bit that Steve doesn't get is that those of us who don't have minions to remember stuff for us need to write it down somewhere..