Apple’s iPhone has quickly become a popular item in the news, but many people are wondering if it is worth purchasing. It’s a moot point right now: we don’t yet know the final details about the device as it doesn’t ship until June, but there are a few important considerations.

Firstly, the phone will only be available on Cingular (soon to be renamed AT&T) in the US. This will apparently be the case for the first 2 years. You might be able to “unlock” the phone and use it with T-Mobile (though some special features like “visual voicemail” may not work), but since the phone uses GSM technology, it will not work with Sprint or Verizon Wirelses (both of which use a different technology, CDMA). Since purchasing the phone will require a 2-year contract with Cingular/AT&T, it is really not too much of an issue.

The iPhone is expensive: $499 for the 4GB version and $599 for the 8GB version. You’ll want the 8GB version. There may well be changes in the price by June, but it will still be expensive. Though the price is high, it’s not outrageous for what is being offered, particularly if you already use a cell phone and an iPod. Many high-end phones start in this price range, often with far fewer features than the iPhone.

The iPhone has some tremendous technology inside and is sure to blow away most other phones out there with its 3.5″ touchscreen, proximity sensor (that turns off the screen when it’s close to your ear to save power and reduce accidental presses), rotation sensor (it can tell if you are holding it upright or horizontally and adjust the screen), and powerful, easy to use software.

There are a few downsides, however. The iPhone uses EDGE for data when it’s not in the range of WiFi. This is considerably slower than the high speed EVDO networks from Verizon and Sprint. Cingular’s own high-speed HSDPA network is not yet supported (this is sure to change with future iPhones, once HSDPA spreads beyond the few cities its present in now). This is not of great importance for e-mail, but web browsing might be annoyingly slow via EDGE. In addition, though Apple claims breakthrough technology in on-screen keyboards, it is not yet clear how well this compares to hardware keyboards like those found in the Palm Treo. Lastly, the iPhone is not small – slightly larger than a standard video iPod.

If you don’t mind carrying a relatively large phone and using Cingular/AT&T for service, dealing with EDGE speeds, and using a touchscreen for text entry, the iPhone is sure to be a blast to use and a convenient way to reduce the number of gadgets you are carrying. We’ll explore the iPhone more as we get closer to the release date.