In an effort to compete with the Blackberry, and gain momentum in the business world, the iPhone now has full support for Microsoft Exchange, one of the major factors holding the professional back from splurging on an iPhone.
While Apple is now going full force trying to make the iPhone attractive to nearly every demographic, if you ask me, they should have chosen a different name for the phone if they had plans on doing that. Apple has been known to use the iName nomenclature to reference their home and low budget products ... the iBook, the iMac, the iLife suite, while using Power and Pro for their high budget and business products.
Apple is usually so good about these types of things, that it makes me wonder whether it was just an oversight or if they intentionally decided to change their target demographic long after the fact. The question now is whether it's too late.