Its not the phone stupid, it's the service. I expect the iPhone will be a sexy, slick transformational product ala iPod. And I think Apple could transform the communication biz like it transformed the music (and now personal entertainment) businesses! So I agree with Seth put me down for 2 million plus -- or basically as many as Apple can produce -- Oopps I forgot about...Cincular!!
Now I'm sure there are some very good reasons Apple had to partner with Cingular -- had to be else why would the consumer service darling slowdance with the ugliest guy at ball? Be honest, come on weren't you waiting for Mr. Jobs to say "and another thing", No contracts, calling plans explained in a few sentences and iPhone service at the genius bar. Apple's phone, Apple's game, Apple's ball!
Jobs did not let the music industry dictate the iPod, better hope the knuckleheads in the cell phone industry don't kill, sorry drop the iPhone -- or it might well end up in convergence hell right next to Newton! At least try to keep Mr. Sigman backstage!

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