Tell me: what part of the iphone OS is going to make it into leopard?
Everything is just OS X scaled down. The OS X team ported OS X to the iphone and took out a bunch of features.
I really don't think it's going to do anything but continue to rob developers from OS X for mac to work for OS X for iphone.
Well, try this on for size. What if Apple fully integrated OSX (10.5), or OS 11 (one day) with ALL their products. This way, the iphone would become a remote control that could access ALL of your home computer files (music, movies, programs, etc.) anytime you are on wifi. Kind of like slingbox, but a million times better. This is where the OSX development team WILL be going with this (and other) products. Now, when this happens, will you say that MAc users have been robbed of OS development by Apple? I doubt it!
Instead, you will be sitting in Starbucks sipping your latte and controlling your home computer, with full access to EVERYTHING. It would be like having terabytes of storage on your iphone.
Hell, I wouldn't be surprised if in another 5 years the iphone could beam Scotty out of his grave and right to Starbucks to join you for a coffee.