Apple Unvails IPhone

It seems like an interesting new direction for the what will be now known as Apple Inc. and not Apple Computers. I wonder if they are going to change the equasion when it comes to seasoned competition like Motorola, Nokia, and RIMMs Blackberry? It certainly is expensive though:

The iPhone, which starts at $499, is controlled by touch, plays music,
surfs the Internet and runs the Macintosh computer operating system. Jobs said
it will "reinvent" the telecommunications sector and "leapfrog" past the current
generation of hard-to-use smart phones

It does look cool to me. It is nice and thin and has a pretty big screen. It looks very high tech and elegant like you would expect from Apple. However I wouldn't buy the thing when it costs the same as a low end PC. I'll wait until the early adopters get their hands on it before I'll make any final judgement calls. Also you would have to switch to Cingular if you want a crack at it in the first place.