On the iPhone guided tour video, the functions are not displayed on an actual iPhone but on a simulated one (correct me if I'm wrong about it - but it doesn't look real to me). The responsiveness of the iPhone on that video looks very impressive (for such a small device running such a heavy operating system). Will an actual iPhone be this responsive?
No day in which you learn something is a complete loss.
From preliminary accounts of users it seems that the phone works very quickly. Here is a long video demonstrating all of the phones abilities: (zip download).
This video shows some real examples:
Here is a cool review:
And here is a funny parody:
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