Well, after all the various rumors about iPhone development (e.g. no interface builder, limited initial functionality) we have the actual announcements:
- The iPhone development system is XCode
- You get an iPhone simulator that runs on your Mac
- Interface Builder works fine
- Games with OpenGL and OpenAL work fine
- And you can sell your apps through iTunes
And Apple will be blocking some potential iPhone applications that are bandwidth hogs, illegal, malicious, or porn related (like you need anything more than web-based development to do porn…).
Oh and the iPhone 2.0 software update will provide direct Exchange access.