WAP is supported only in specific phones, and every phone has his own way to 'support' WAP.
iPhone does not support WAP, because WAP is a technology made for phones who cannot handle html web browsing. iPhone handles it, so it does not need WAP.
Missing WAP, it means you miss any WAP browsing interface companies provided for the above devices, for convenience to let users access services available only on the web and not by them. You now have full web access so you don't miss anything.
As long as WAP is browsed via internet as the html, it may be happen one day you can found in store some app who lets you navigate WAP sites (including, but not limited to, your provided carrier ones), same thing with Gopher. I'd like see something like that, for the fun of recalling good times.