From a user experience point of view, iPhone's integration with iTunes will be best ever, I'm sure. Video in your iTunes library will have a natural mobile home.
But what about all that other video we consume? Most of it on the web is in Flash these days, and many people seem confused about how much support the iPhone's Safari browser will have for Flash.
With revelations that YouTube is going H.264 for Apple's sake, will Apple enabling its iPhone with Flash?
I hope so, because my online video experience doesn't revolve around YouTube. But for the mass market, it does, and this opens the possibility that Apple could go back on its Flash promise.
June 29th, we shall see.