This thread is to list all the features we think the iPhone is missing, even after the 1.1.3 upgrade.
First of all let me tell I was very disappointed the 1.1.3 didn't bring the voicerecording and the diskmode features, as everybody thought before its release.
To me it seems the iPhone still miss a decent bluetooth support (send/receive files, A2DP, ...), video capture.
As far as the apps I'd like to have from third party developers I can't help it but saying I'd really like to have VLC on the iPhone so I wouldn't have to convert all the video files in order to watch them on my iphone...
So, recapping:

(from Apple)
- VoiceRecording
- DiskMode
- decent BlueTooth support
- VideoCapture

(from somebody else:-)
- VLC

You can already record your voice on the iPhone with VoiceNotes. You can also record video, albeit its not very functional at present but this is set to change when drunknbass releases his app.

no copy and paste.