These are the notes I made when watching the video...
ringtones - preset only, can't use songs. How to add new?
That's been discussed here already. If I've bought a song I don't want to pay again to make it a ringtone. I can make any MP3 or MIDI file a ringtone on my Treo 650 (2-1/2 yrs old) so I hope they add this soon. Charging for ringtones is so damned lame.
email - 15m 30m 1hr - no 5 minutes!
I have my Treo and mail.app set to check email every five minutes. I do hope they add a 5-minute option. Yes it eats the battery faster, but I need info faster. This one really bothers me.
no voice dialing
I hope they add this soon. This is a major missing feature (missing near as I can tell).
locking if lost?
I didn't see a way to lock the phone, requiring a password when turned on. I don't use this myself but many consider it critical.
wallpaper, not desktop picture
This struck me - they called it "wallpaper" - the Windows term - and not "Desktop Picture" - the Mac term.