This discussion will become quite interesting once 3rd party developers start cranking out applications for the iPhone. Its likely we'll see VOIP, Multi-Protocol IM clients, Terminal Applications, all the things that make the "open" Internet Tablet system so appealing.

The problem I see in the coming year or two is this:

If the developers flock to the iPhone/iTouch OSX platform, and all the polished 3rd party applications are exclusive to it... where does that leave the Internet Tablets?

Now, I am aware this outcome depends solely on Apple's implementation of the SDK and approval process. But its likely we'll see all the goodies that make the IT unique show up on the iPlatform™ (zing!).