All Apple's 3G iPhones cons at once...

Here comes the brand new version of the "bijoux" (just kiding) of technology

Now be serious...
What did they fix since 1st iPhone version (points in gray color were not reviewed yet)

General:
- Two-year commitment required for activation (whatever country you get it)
          - Except in France where you can buy it on retail version (For more than 1000$)
- Most of Operators contracts will not allow illimited Data with iPhone
          - What they usually call illimited are in fact limited (read your contracts)
- No third application allowed (until famous SDK in february)
          - Not so open...
- No build in Instant Messenger Program
- Chat substitute uses expensive SMS (Web alternatives available but don’t signal on incoming chat invite)
- No Java support
- No Flash support
- No built in Games
- No webpage reformat by Safari (for convenient viewing like Windows Mobile IE's one-column view)
- No Landscape mode in all applications
- No full-screen view in browser (Large button strip always present)
- The mobile version of OS X or whatever it is the iPhone runs takes up 700MB of the device's capacity

Business/Office:
- No way to Edit Excel/Word/PDF/Powerpoint files (just a viewer)
- No Exchange/Blackberry servers support (only Pop3/Smtp and iMap)
          - Did not sync your exchange tasks and notes
          - You can't use personal data AND corporate data on same phone...
- No Text Select, Copy and Paste between applications
- Spelling errors are not flagged in text
- Cursor positioning inside editable text is difficult

Communication:
- No 3G (Only EDGE). We know you know, but still, it hurts man.
- No GPS functionality (Google map is not a GPS application)
          - Some improvements but no turn-by-turn support (will have to click on screen to get next direction.... do not do that when driving) 
- No Wifi/OTA Sync With iTunes or other iPhones
- No Sync/Printers/Keyboards support over blueTooth
- No way to download, upload, or store data thru Web apps 
          - Except from Apple App store
- No way to save Web pages for offline viewing
- No VoIP support for Wi-Fi

Settings:
- No way to use mp3 as ringtones (even if you spent hours to convert them thru iTunes)
- No airplane mode
- No voice dialing; full hands-free operation impossible
- No External mute button

Hardware:
- No removable battery
- No High resolution camera (2 MP only)
- No expandable memory
- No A2DP (Bluetooth stereo) support
- No TV out
- Headset jack not phone standard
          - Now use standard 3.5mm jack
- Not addressable as USB storage
- Phone audio quality subpar
- Its Storage Capacity is low (Rivals iPod Nano and Touch, not iPod Classic)
          - iPod Nano (4GB/8GB)
          - iPod Classic (80GB/160GB)
          - iPod Touch (8GB/16GB)
- TouchScreen not so accurate:
          - Can't adjust parallax (finger/screen offset)
          - The Keyboard is Unproven (not for SMS addicts)
          - You need 2 hands to make it work (held by 1 and controlled by the other)
- iPhone pairs with MacBook Pro Bluetooth, but offers no supported services
- No buttons = No way (with actual accessories) to browse songs without getting your iPhone out of your pocket
- Not ecological (see greenpeace articles about apple)  

Media:
- No video capture
- Quality of camera is poor:
          - No digital zoom on camera
          - Focus distance limited
          - No exposure control
- No mp3 support (you have to convert them thru iTunes)
- No MMS support
- No streaming audio/video support

To conclude there are still a lot of space for improvements and maybe a third version of Apple's iPhone (not that others are now running fast => see HTC, Android, Nokia...)