AppleHound has an amazing list of 68 iPhone bugs, most of which are easily reproducible by any iPhone user.
They range from serious bugs to simple bugs with workarounds.
I went through a few of them and was able to reproduce all of them.
There have been rumors of an iPhone firmware update “coming soon” since even before the device was available. I do still think that one has to be coming soon, especially after so many people have been able to bang around on the thing and find all of its flaws. I bet all the boys in Cupertino have their ears open and are finding out just what all their users want to be added and they will be added soon.