The company uses Scalable Vector Graphics (SVG) technology that, for example, lets it shrink a five megabyte PowerPoint slide down to 20 kilobytes. "Or if you want to bring down your whole My Documents folder to the device, we let you get through it quickly," said Moreton.

In addition to Friday's release of Apple's software and host of other developers, Murphy at the iFund said its received some 2,200 pitches by developers for the iPhone, though it's not launching any iFund-powered programs till later this year.

Apple said its stores will be open starting at 8 a.m. Friday for iPhone customers. Market research firm ChangeWave just released a report this week that predicts the iPhone 3G will have "Tsuanami-like impact" on the smart phone market.

ChangeWave based its comments on a survey last month of 3,567 consumers. The survey found that 56 percent of those who planned to purchase a smart phone in the next 90 days (10.5 percent of the respondents) said they planned to buy an iPhone, that's a 21 percent leap from an earlier ChangeWave survey.

ChangeWave also said one-in-two current iPhone users it surveyed are "very likely" to buy the iPhone 3G for themselves or others in the future and half of those said that purchase will be within the first 90 days of release.

Story courtesy of internetnews.com.