Iphone is quite nice however:
1) £269 - ok not too bad a price considering all the features
2) O2 have cornered the market so you are stuck with taking an 18month contract and paying between £40 to £55 a month for the privelage.
3) It cannot be unlocked or another O2 sim card being used in it because some of the features will not work.
I think - give it 12months and they will have better offers and it will probably be more open.
I enjoy Apple products and think its a real shame!!