Will the Iphone replace the Kindle

Great news the Kindle 2 is out! How exciting! WOW! I am so excited and I just can't hide it.
We’ll wait a minute what’s that - Amazon just released an Iphone Kindle application. So I am confused the Kindle 2 just came out but it still costs a fortune around 300 bucks, so why don't I just use the free Amazon Kindle app on my Iphone.
Well that is entirely possible except the Iphone application at this time is a bit scaled back. The App does not allow you to access newspapers and magazines at this time. The App is not as full featured as Stanza and does not perform near as well. The App does not allow you to purchase from within the app, you must go to the Kindle store then the application syncs your store purchases.
Even with these bad points there are some exciting moves with Amazon allowing the Iphone to access the Kindle store content. The Iphone is a solid reader, Stanza makes this point. Amazon obviously wants a part of the Iphone market so newspapers and magazines should not be far behind. Another factor is that print media desperately needs options for delivering their subscription content. The Kindle is a solid device for delivering this media but its cost makes it prohibitive for most.
The end of the Kindle may be near who knows, we can only predict what makes sense. And common sense says that the world is looking for a single device solution to their daily needs. No matter what happens I think the Kindle store should be the beginning of something special now that Amazon has allowed outside hardware to access the content.