No Multitasking for iPhone 2G and 3G
Apple may have a perfectly valid claim that iPhones older than the 3GS model don't have good enough hardware to multitask, but that doesn't make the news any easier to hear. I have a feeling iPhone 2G and 3G owners would be happier if they could at least listen to Pandora radio while running other apps.
No GPS Navigation
I thought Apple to with some sort of free turn-by-turn navigation service, but it didn't happen. On the bright side, Mapquest's free iPhone app , and it could be serviceable enough if it runs in the background.
No Cloud Music