An amazing thing to me about Apple is their willingness to ship an incomplete product. The one negative thing that stands out for me on the iPhone 3G is that I can't copy-and-paste between applications -- and the software is currently on version 2.0.1!
Can you imagine shipping Version 1 of a product without copy and paste functionality?! Or shipping a portable device with 16GB of storage, but-oh-BTW you can't use it as a portable storage device?! I can hear people in the meetings screaming now: "Nobody is going to buy a 16GB phone for $299 that can't be also be used as a storage device."
If you're a software developer, do you think one of your customers would ever let you get away with something like this? You know the answer: no way.
Now, you may think I write this as a negative, but I'm really writing it with admiration that they have the cahones (cajones?) to do this. It proves that you can get away with things like this and sell a zillion devices. Maybe there's something to learn here, maybe all those "must have" requirements don't all have to be there in release 1.0 -- or even in a 2.0.1 release.
Update: I've written more about this in my article, Apple iPad Design: Incomplete, intentionally.
Say what you want about Apple, but they're a very disciplined company right now.