I have a touch - and am jonesing for the iphone. I LOVE the touch, and it is amazing and wonderful and sooo much more than an ipod - but I also know what I'm missing with the phone.
some of the apps require an internet connection - so with a touch you need to be on a wi-fi network to have them work. Iphone has internet via the phone as well as wi-fi, so the apps work anywhere you have phone service. Well, maybe I'm not missing that much - att coverage here stinks.
I just can't justify the extra cost of a phone service contract with AT&T to have the iphone. I am anxiously awaiting the day Verizon can offer the iphone.