All in all Steve Jobs, and Apple, Inc gave the world the iPhone with most their promises kept.  The 3G connection provides better, faster internet speed and now the iPhone 3G has GPS; however, they did strip a few things that the world may miss, namely, video and picture messaging (guess you’ll have to use the web features now).   The battery life is an issue now as well; independent tests say the i Phone 3G give 4.5 hours of talk time (Apple claims five.) compared to last year’s 7.5 hours.  However, Steve did warn us about that last year when asked why the original iPhone didn’t exploit the 3G advantages.  He told us so! All that aside, critics agree, compared to last year’s iPhone, the sound quality is better. So that’s something. This isn't just a cheap mobile phone. 
For more reviews and iPhone info, see these links –  

http://www.apple.com/iphone/features/homescreen.html

http://www.pcmag.com/article2/0,2817,2319438,00.asp

http://bits.blogs.nytimes.com/2008/07/09/first-reviews-of-the-iphone-3g-faster-browsing-better-voice-shorter-battery-life/

http://www.ipodobserver.com/story/36489

http://biz.yahoo.com/paidcontent/080709/3_325229_id.html?.v=1