The iPhone is a one-of-a-kind invention from Apple, a multimedia cell phone with wireless Internet technology. Is the new piece of technology worth all the buzz it has generated? Gayle talks with Wired magazine's Nicholas Thompson about the sought-after gadget.

Nicholas says the iPhone is one of the most hyped pieces of technology to hit the market in recent years. He says that part of the buildup was generated by the fact that few iPhones were released to critics or journalists for review. "They [Apple] don't want to break the mysterious aura they built over it," he says. Nicholas shares the pros and cons that he's found with the iPhone:

Pros:

• Beautiful design: "As a fashion device, it is awesome," Nicholas says. "It is beautiful, it inspires lust—gadget lust."
• Web access and Wi-Fi connections: "It definitely has the best Web browser, I love that it has Wi-Fi," Nicolas says.
• Multimedia: lt is an MP3 player and camera as well as a cell phone and Web browser.

Cons:

• Cost: Aside from the $500-plus price tag for the phone, Nicholas says that you also have to sign up with the cell phone provider's two-year plan. He says a year of usage could cost about $2,000.
• Battery life: Nicholas says the iPhone's battery only lasts about 500 charges and when it dies the iPhone has to be sent back to Apple for repair. "What they really want you to say is, 'Oh gosh, the battery ran out and well, it is a year and a half later and they've put out the new iPhone and it's got all these new things—let's just buy it,'" he says.
• Entering text: Nicholas says that it's difficult to enter text on the iPhone because it is missing a traditional key pad and instead has a touch screen display.