Ok, so Brian has to be contrarian. My, what a surprise. I'll spare you the point-counterpoint-countercounterpoint debate, but just allow this one item:

"As for the video iPod suggestion, I’m gonna have to suggest backing the
truck up. This is not being positioned as a video playback device. At
all."

Might I suggest you check out apple.com/iphone, click the first iPod icon there so you can see the iPod features of the iPhone. What's that? The iPhone playing an episode of The Office? Yeah, I guess Apple isn't trying to position it as a video playback device. At all.

Look, I don't need to defend my position, and I don't need you to argue it. It's my opinion. I personally didn't read any reviews of the iPhone. I based all my opinions strictly on what Apple had to say on their website. So, that's that. My opinion, take it or leave it.

Oh, and one final thing: my expectations are mine, so really, how can they be misguided? That's like saying I shouldn't like tofu, because you don't. But I still do.

EDIT:
I did some more reading today, so I don't appear to be so knee-jerk in my dislike of the iPhone. Realistically, the only innovative thing that I do like about the iPhone is the gestural interface. I don't necessarily like it for a phone, but I like that it is making it's way into consumer devices. But it seems that there are more than a few people who have slightly negative comments about the iPhone. Read and decide for yourself if anything of these drawbacks mean something to you.