Okay so it has been four days since I purchased the iPhone and here is my little review so far. First of all as I expected the phone service from AT&T is complete garbage. Despite the coverage map on the website showing I should have a strong signal at our house (we can see the tower from the porch) I still have had moments of No Service while sitting in the kitchen. As far as I am concerned this is completely unacceptable and I will be calling AT&T every week until it is resolved. I have had more dropped calls and poor reception in the last four days then I had with Verizon in three years. I am also having a hard time getting solid 3G coverage as I drive around the area and usually end up on the Edge network, which is much slower and what the old iPhone supports.
The phone service aside the iPhone has been working out really well. I have switched over my work email to use the new Microsoft Exchange functionality on the phone and the push calendar and mail have worked as expected. The new apps have been really great and expand the functionality of the phone to a whole new level. I am still getting used to some of the features, but the phone address book is easy to use despite some lag when loading my entire contact list which contains about 200 contacts.
Unfortunately I have witnessed a couple bugs which are rather annoying because it requires a reset of the iPhone. First of all the accelerometer sometimes gets confused and then is only fixed by resetting. I don't have solid steps to reproduce, but it effects several applications including the camera which ends up taking photos upside down. The other issue appeared for the first time this morning, the phone didn't have any wifi capabilities. I tried to pick a network and the menu option was disabled. Both of these issues have been reported online and will hopefully be fixed in the next bug fix release in the near future.
Overall I really love using it and have integrated it into my life. Now I just have to hope AT&T gets there act together and fixes the service, because I don't want to have to spend a few hundred dollars on a cellular repeater.