I've seen this at the Apple Store and pointed it out to a genius, and he was completely confused. Its probably because the Touch and iPhone share some code between them and there was some sloppy quality control by the Apple engineers.
If you have a passcode set on the iPhone, and enter an incorrect pin more than three times, the screen will read "iPhone is disabled" for one minute. If entered incorrectly again, the iPhone will be disabled for five minutes.
If you have a passcode set on the iPhone, and enter an incorrect pin more than three times, the screen will read "iPhone is disabled" for one minute. If entered incorrectly again, the iPhone will be disabled for five minutes.