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The iPhone, released to the public last Friday, is one of the most hyped devices in memory. But is all the excitement justified?

John McCormick of Baseline suggests that the iPhone could blow the market for handheld rich Internet applications wide open, even though the iPhone was designed for the consumer rather than the enterprise market. Om Malik concurs, noting the significance of the built-in Safari browser that brings the full Web experience to mobile phones for the first time. Smart Mobs opines that mobile phones (not just the iPhone) represent a mass medium unto themselves that are revolutionizing the fundamental ways in which we communicate.