There are two well defined camps around the IPhone. Those for and against (surprise, surprise). Most of the people against seem to be disgruntled IPod owners complaining about dead batteries. Those for are Apple fanatics, consumer activists.
The iPhone opens the doors for developers to create immersive web applications targeted at mobile devices. Most importantly those applications can now provide a strong financial incentive for VC to get onboard the mobile movement.
If anyone is thinking/working on an mobile device related-project, get in touch. I'd love to hear what people are developing and I guarantee you'll get some great feedback :)