Yeah but for the messaging/Exchange intergration, it's just incredible.
Let's not kid ourselves here:
Microsoft's intention with WM6 is to target RIM/Blackberry (that's why it was called "Crossbow" btw)
The iPhone is meant to target a new, niche audience (with money)
They are not competing with each other and the fact is WM is mostly shaped around it's business use, not consumer...although that is starting to change.
To see some of the features, read:
http://blogs.msdn.com/jasonlan/archi...at-s-cool.aspx
or watch this Vid :
http://youtube.com/watch?v=fJH7kdWjoQs