It's a very good thing.
The one problem I've had is connecting to my Frontiernet wireless. I think the problem is with the speedstream router which has been giving my mac trouble too.
Frontier tech support apparently solved my mac problem by persuading me to turn on wpa secrity. I apparently solved my iphone problem by connecting a belkin54g router to my network. No more dropped connections.
Meanwhile, I've also confirmed that you can activate a (second) iPhone using iActivator. This means the applications run, etc, albeit with no phone functioning. But while the iphone finds my wireless network(s), it fails to "find servers" (DNS failure it would seem). Yet the wifi configuration matches that on my working iPhone. To be continued....
Also, iFuntastic lets you browse the iPhone file hierarchy and modify some appearances (on my new intel mac. Am I with it, or what?)