Is the Apple I-Phone Really Worth Buying?

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Is the Apple Iphone really worth buying? It is $500 to buy, so, is it what everyone expected. List your reasons why is it worth it or why it isn't. Think about the dissadvantages and the advantages to the product. Should people really buy a $500 phone just to browse internet and listen to music all in one? Or, should we all wait until the final brand comes out in stores? What do you have to say?