I was telling someone the other day that the iPhone is to the original (1984) Mac as regular cell phones (like my old Motorola PEBL or Sony Ericsson T610) are to DOS. You could get things done with DOS, but the Mac was a heck of a lot friendlier.
I guess I’d say that other smart phones are like Windows 3.1. They have more applications than the iPhone but they’re not nearly as nice to use.
Of course, what most geeks want is OS X, or least Linux, but the iPhone isn’t that, either. It’s closed, you’re stuck with a few apps, and it doesn’t have all of the capabilities most people want. Its saving grace is that everything it does have is elegantly implemented. As much as I love my iPhone (and I do love it), I’m still wishing for the OS X of phones.