OK, this topic has been beaten to death, with almost 150 comments here on edbrill.com, a bunch at Bruce Elgort's site, at Nathan Freeman's site, at John Head's site, and at Greyhawk's.  Lotus VP of development Brent Peters has also chimed in, with this comment on vowe.net:

Let me say, that we have the iPhone as a very high priority. Obviously the new iNotes (DWA) UltraLite is a very quick step that is not dependent on the iPhone SDK (api's). For sync, however, there are issues (not just for IBM), around the currently available SDK (both technical limitations, and some licensing), both of which are being worked and pushed very aggressively by IBM. It isn't that we have a lack of recognition here, lack of urgency, or even lack of will. We are aggressively pursuing, but not ready to publish a plan date yet. We, IBM, will be doing the heavy lifting on the work required here, but would be good to share passion for Notes integration with your Apple Sales rep as well.
A number of bloggers and comment posters called bullsh*t when I said that sharing your thoughts with Apple would be a good idea.  There's now a second (more-senior) voice from IBM saying so.  And it's worth reiterating why this is important.

There was no surprise in the SteveNote for me or anyone at IBM, other than maybe the presence of Exchange front and center on the apple.com/iphone/enterprise page.  The conversations with Apple have been ongoing for many, many months.  But ultimately, this is their device and they decide what happens with it.

We've had support for Blackberry with Domino for several years.  While we work closely with RIM, I've never found a customer that felt that IBM was the primary party responsible to make RIM's BES for Domino support better or current or whatever.  They know that IBM is a piece of the equation, but that the development is done by RIM and that it is ultimately RIM that decides things like 8.0 vs. 8.0.1 support, when to add HTML, and how to bring out new services like the Blackberry client for Lotus Connections .  We as the platform vendor are definitely involved in the influence and partnering pieces of the equation, but we don't get to make the decisions.  

For some reason, when I (and now others) have suggested that the exact same thing is true in the Apple world, I have been called names, insulted, labeled as ineffective, and similar criticisms have been heaped upon the entire Lotus team.  Do we have a responsibility to step up, to work hard to make things happen, to push for what we believe in?  Absolutely.  But to be told that we must not be, because there's no public evidence -- it's just bad, offensive deductive reasoning.  Brent's comment -- and a similar conversation I had with Kevin Cavanaugh yesterday -- should lay to rest any concern about our prioritization here.  It's just work that has to get done, and hasn't yet.

Meanwhile, I'm sure the RIM folks are quietly chuckling about all this.  It has taken then what, eight years to build up the experience and expertise to build an enterprise-worthy smartphone.  They deliver not just e-mail integration, but talk to other Lotus products (Sametime, Connections) and, more importantly, have hundreds of other shipping solutions for enterprise support from a variety of vendors.  There's been some discussion on the blogs as to whether a customer would switch mail systems because Exchange is supported and Domino isn't.  This discussion happened a few years back when Blackberry only supported Domino.  Now RIM has the broadest enterprise mobile platform, period.  If anything, Apple's announcements this week highlight how far they have to go to really address the enterprise.  This can only be good news for customers -- choice and competition usually are -- but until we see what happens when Apple actually ships, the choices that exist today speak for themselves.

One last point -- we don't really know yet how good the iPhone's support for Exchange is, anyway.  It was pointed out to me that the iPhone's support for other e-mail systems, such as Yahoo mail, only checks and syncs mail on a fifteen-minute interval.  Other systems do e-mail only, no calendar or contacts.  We don't yet know what the Exchange support actually is in the real world.

I think it's ultimately going to be fun to watch and be a part of this space as we move forward.  Smartphones and hand-held devices are only going to get more important.  Figuring out the right way to incorporate them is a very-big-thing, and may be where a lot of innovation happens in the coming months/years.

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