Red Ferret has posted ten criticisms of touch displays that users may strongly dislike about iPhone as well. Now, I am a long time PDA veteran and have used mobile devices for as many years as there are points in this article. And I can say that most of these criticism are rather frivolous or exaggerated. Point 4 is particularly nitpickish. Is it really a shortcoming that you can't carry your car keys in the same pocket with your phone? Uh, not if you also consider it a shortcoming that you can't drive your car in the same lane with oncoming traffic.
Anyway, feel free to read through the ten points and draw your own conclusions.