Oh, iPhone, how I desire you. While I was distantly intrigued when first I heard rumors of the iPhone's future launch last fall, I have had to have this phone since seeing photos over the internet in January. The iPhone is everything: mobile phone, e-mail device, internet browser, iPod, movie viewer, photo sorter. The iPhone is beautiful. The iPhone employs a touch screen and has virtually no buttons. The iPhone makes me drool.

But let's get into the nitty-gritty:

What is it? The iPhone is a mobile phone that, like any good smartphone, does everything you could possibly need done while mobile, and does it with a touch screen instead of buttons (score two cool points, and one usefulness point). While no one but the hand models in the TV ads know exactly how easy to use this will end up being, let's recall that Apple, Inc. (NASDAQ: AAPL) does have a reputation for being more user-friendly than anyone else. Hence its ever-rocketing stock price. The iPhone does e-mail via IMAP, the only really sensible protocol for a smartphone to use (score one usefulness point); it plays music and movies (score two cool points), it takes photos (score one each on usefulness and coolness), it browses the internet.

How much? The iPhone is advertised at $499 for 4GB of storage, and $599 for 8GB, with a two-year AT&T (NYSE: T) mobile phone contract. Although it's certainly possible there might be larger discounts at launch (or thereafter), we'll stick with the base price of $499.