"Mike Elgan at Computerworld lists six reasons why it was a mistake to make the iPhone keynote at Macworld. He argues that extremely high expectations can only lead to disappointment for consumers and investors. The focus on the phone during the keynote also took away from the Apple TV announcement, put iPod sales at risk, gave competitors a head start, and (perhaps worst of all) ruined the company's talks with Cisco over the iPhone name. From the article: 'The iPhone, despite its many media-oriented virtues and its sweet design, will do far less than most existing smart phones. The problem Apple now faces because of Jobs' premature detail-oriented announcement is that of dashed expectations. When customers expect more and don't get it, they become dissatisfied.'"
So I put it to you, fair reader: