The iPhone is the 'gadget' that quite a few people want (or already have) right now.

The next two links provide opposing views of this device :
- 10 things to love about the iPhone
- 10 things to hate about the iPhone
Personally, I won't be getting one. Partly due to the actual cost and partly as a result of the overblown hype surrounding it.
What hype? For one, the naming by 'Time' magazine of the iPhone as "invention of the year".
An invention needs to be something radically new not just a development - even quite a major development - of an existing device. By their definition the car would be re-invented everytime a new model was announced - clearly very silly.