The iPhone has the fancy new Safari browser (which Nokia has had for awhile, but still) and the un-fancy painful EDGE network is going to kill it.
The internet piece will seem so painful as you will get used to using it via WiFi (which is great) and then when you use it on EDGE you will be crying. Minutes to download a page???? really?
At least on a Blackberry with a minimal system (although it drives me nuts that the browser is painful wrt CSS.. display:none. please!) the latency and download speed is painful, but the data is so small that it comes down in short order.