Got your iPhone locked down with a password? Well that's pretty much useless since anyone can bypass the password with 2 clicks! Just tap "emergency call," then double-tap the home button. Bam! Instant access to email, SMS, Safari, etc.
Check out the video demonstration over at Gizmodo.
I still don't know why people go completely bonkers over the iPhone. It's too expensive and too restrictive. You can get Windows Mobile compatible phone on eBay for about $100 and then install a totally customized software platform on it - like HTC Apache (no relation to Apache Web server) - which I think is pretty cool.
I'm looking forward to being able to install Google Android on my phone. Or Ubuntu Mobile. Whichever works better. I have a copy of an Android package that'll the shutdown Windows Mobile and boot Linux then fire up Android. But I have to rebuild the kernel to work on my phone's processor and I haven't gotten around to doing that yet...
Right now I'm beta testing Skyfire, which is a mobile version of Firefox that makes IE Mobile look like something out of the dark ages.