While I agree with some of the things you have noted in your post, from my own experience I really feel I would have say the following...
RE: Issue 1 - If you really want to see an "inadequate 2MP camera", pick up any Nokia N81 or Sony Ericsson W910i and you'll think your iPhone's camera is wonderful! I admit that it doesn't like indoor (and especially poor lighting conditions) when taking shots, but outside it does take some fantastic pictures for a camera that doesn't have auto focus. It would be great to see a next generation iPhone with a 3.2 or even a 5 MP camera though, especially if they teamed up with a respected digital camera company (such as Canon, for example) to provide the optical sensor.
RE: Issue 2 - I (personally) haven't found the browsing to be that slow. EDGE maybe wasn't the best choice (3G would have been faster (but used a little more battery life) or HSDPA), but then again you have to look at the fact that this is the first mobile device Apple have ever made and they will also be a little more biased to what is popular in the US. They really need to look at a more universal data solution to keep a competitive edge (if you pardon the pun).
RE: Issue 3 - I too have a .mac account and have so far been very lucky to have had no such problem. All my e-mails come through to my iPhone without any issues at all.
RE: Issue 4 - I am lucky (unlucky?) that I have quite skinny fingers, so this will never be an issue for me, but everyone is different and maybe Apple should offer a solution. Maybe they should make a small, portable version of the Bluetooth keyboard they make for the iMac, a little like the one Nokia make. At least then those users who couldn't get along with the touch screen would have an option.
RE: Issue 5 - I totally agree with you - with all the benefits of Quicktime and H264 encoding, you would have that that the iPhone would have been an excellent choice for making videos, especially if it have iMovie syncing of the videos you made or direct uploading to YouTube. I hope Apple address this in an update, as I'm sure it would be possible.
RE: Issue 6 - Again, I wouldn't really agree. As a previous contract customer with all the networks you mentioned, I found that when I was traveling around the UK (as my work takes me to many audio recording studios), I had in fact better coverage and less dropped signals when on trains with O2 than with Orange or Vodafone. As a (one time) seller and reviewer of mobile devices, a lot of people forget that the call quality, signal strength and reception depends just as much on the individual handset as it does on the network supplier.
IMHO, I think Apple made the right choice with O2, as I'm sure Orange (or Vodafone) would have wanted to brand the device, which is something I always hate and with regard to customer service and satisfaction, well I won't even go there! I know O2 aren't perfect either, but I have seen some very good levels of service from them where I live. Everyone will have an individual experience.
I agree with you - the iPhone is not flawless - but it is an amazing handset for a first attempt at something they have never done before, no question about that and I am sure that we will be treated to even better things in this area from Apple in the future.