Mike and I got chatting yesterday about the features we want/expect in the eventual "iPhone". As we got to thinking about it, we realized OS X is the perfect operating system to sync with a phone. Your pictures automatically load into iPhoto, your address book and calendar stay synched, movies from your phone can be edited in iMovie and, of course, iTunes.
I'd like to see at least 8 gigs of flash memory, 3 mpx camera with geotagging and wifi connectivity so when I'm wandering around the office it will notify me when I get a new e-mail in my Mail account (without having to pay data costs through a carrier). Of course, bluetooth, iPod interface and perhaps Spotlight integration as well. All that's gotta come in at about $300 without a contract.
What other features do you want to see? List 'em in the comments.