My iphone does more than just access my e-mail and the internet (and the internet does look exactly like it does on my home computer...unless it's flash

)
A lot of smart phones are also all about the apps. I can't even begin to list all the apps and what they do, but a few I can think of now are-
google maps (which uses gps, and functions similar to a car gps).
skype, with skype I can call overseas or even locally for MUCH less than what it would cost me in minutes. You can really reduce the number of minutes you use.
Red laser- scans barcodes on products and lets me know what they are selling for at nearby retailers.
Card star- stores all your club cards (safeway, petco, ect) on your phone and generates a barcode that can be scanned just like the actual card, so I don't have to worry about carrying around all those dang cards!
Face time- this only works if your talking to someone who also has an iphone 4, but it is awesome! Especially with my husband being in the military and away from home occasionally!
Around me- tells me what business are nearby, broken down into categories.
Bump- this allows you to bump your phone against another to transfer data between the two.
Pandora- great music app
Angry birds- very helpful while waiting in boring DMV lines!
Youtube- see above
There are millions more, one for just about everything you can imagine. From an app that works as a level, to an app that lets you unlock your car with your phone.