Gear Live has word that Apple is beta testing iPhone's 2.1 firmware and will add more GPS functionality to the phone. Specifically, the core location functions will be able to track what direction you're moving, and how fast (for turn-by-turn navigation, maybe?). Also worth noting is that iPhone SDK 2.1 is also seeding to beta testers, but cannot be used with the app store. [Gear Live]
On the subject of GPS; since pictures are tagged with the location they were taken it would be nice if you were able to show that location in maps on the phone.
As it is, the only way to get at the info is on a PC/Mac after downloading the images. Seems odd they missed that the first time since quite a few other such bits and pieces are integrated (eg email a pic, wallpaper etc)