Yippeeee!
Edit from my laptop:
Of course its a status symbol. Its also a fun toy. If you need a smartphone for business then go with a Blackberry.
Checking email is easy but sending is more time consuming than other phones because of the tactile keypad. I'll get used to it but its just not great for intensive text entry.
Other phones will also give you turn by turn driving directions.
The iPhone is definitely acceptable for low-intensity business stuff & it will come in handy for that. But really, its just a cool toy. Music, video, internet, maps, phone, email & camera - pretty sweet. I didn't own an iPod so I got two devices in one. And of course its got great design.
I was expecting a little bit of buyer's remorse, but so far, I've had none. To sum up: Yipppeeee.
Edit 2:
One problem - Vista SP1 is crashing when I rip CDs using iTunes. Its taking a physical memory dump and then belly flopping onto it. I don't really care about this laptop - I've torn it down and rebuilt it at least three times now, the latest was a Vista experiment, and I can't really say I'm surprised that this OS is unstable. I'm slowly but surely getting music onto my phone. Battery life will be next up to test.