Well, it's not quite yet the release of the 3rd generation iPhone per say, but Apple is announcing the third generation of the iPhone operating system on the 17th of this month.
I never owned an iPhone, but I have played with them at stores and had a couple of complaints about the OS. These complaints mainly had to deal with copy/paste, and the lack of a true multitasking environment. I was pretty annoyed with the fact that program processes weren't allowed to run in the background, and this for me is a hindrance. I like to have more than one app open at a time on pc's and not being able to do this on the iPhone was discomforting. But all of these issues are hopefully going to be addressed with the newest release of the iPhone OS.
It will be interesting to see what Apple comes out with because Palm seems to have taken the spotlight with it's future entry into the smart phone market with the Pre. Probably one of the most unique characteristics of the Pre is the operating system, which evolves entirely around HTML 5. Making it relatively easy to program for if you know HTML and JavaScript, and the various web technologies. Whatever Apple comes out with I'm sure it will raise the bar even higher.
EDIT: The link on the post title didn't carry over so here it is:
iPhone 3.0Labels: Apple/iPhone, Palm/Pre