Just a few things and most could be fixed in software:
- no CALDAV: sync is so 1990, you're always out of sync!
- no general portrait mode
- mail client could be easier to use
- 256M root fs: we can overcome it but it shouldn't have been a problem
- custom ringtones: I would have expected the same phone features as on my N95 at least
- no maemo6: I never liked gnome, so a full QT environment would be much better that an hybrid

As for the hardware, only
- thickness and weight: not a problem, but a slimmer device would have rocked
- front camera: the only app using it seem to show it's crap
- french keyboard: the guy behind it is a complete idiot! press shift to reverse arrow keys! dedicated keys for accents! no pipe!
I can change the layout but the labels won't match which is lame

Generally, I guess I was expected a lot more at start and I'm just impatient for the fixes to come up.