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In our first complete day of testing iPhone after a complete charge, we ran the battery down to 10% with just shy of nine hours of usage. (iPhone tracks "usage", which is all the time it spends not in standby since its last complete charge.) A majority of that time was spent using Internet via WiFi, with some EDGE, occasional photo taking, and about an hour and a half of phone calls. 

Apple claims up to 6 hours of Internet use, or up to 8 hours of talk time. We didn't measure closely, but our first day appears to bear out these claims. It will take a few weeks of use to get a sense of how long the battery lasts with typical a day to day usage, but we guess that we'll be charging it every two or three days as we drop to less frequent use.

We also learned that iPhone warns you when just 15% charge is remaining, and again at 10%.
iPhone's battery is not removable. Apple offers an iPhone battery replacement service for about $85. (Apple also will rent you an iPhone for $29 for use during service.) Disassembling iPhone is not for the faint of heart; when the time comes to replace our battery, we'll have Apple do it. Apple says the battery should be good for 300 to 400 complete charge/discharge cycles. If iPhone lasts two to three days between charges, the battery's life expectancy at two to four years. Actual results will depend heavily on usage patterns.

Safari is where iPhone shines. Based on the same WebKit rendering engine as Safari for Mac and Windows, it rendered every web page we tried flawlessly. We were simply stunned at how good pages look, and how very readable they are. Even heavily designed sites such as Ars Technica and the Wall Street Journal work well. (It even worked fine with the Journal's "rollover" menus.)
iPhone's zoom gestures are the key to making the Web usable. Simply double-tap the area of the page you're interested in, and Safari zooms in to that area, intelligently enlarging it to just the right size to read on iPhone's screen. iPhone's novel "pinch" and "stretch" gestures work smoothly, and flicking a web page around is remarkably easy. In a single weekend's use, we've already come to prefer it to scrollbars. (In fact, when using a PowerBook, the author keeps trying to flick web pages and emails up and down!)
If you want more width for reading, just turn the phone on its side. Safari rotates and resizes the web page content to fit.
Safari is where you will most notice the speed of the network; we did some basic testing with DSLreport.com's Mobile Speedtest. On WiFi networks, we got around 800-1000 Kbit/sec on a DSL line, and somewhat better on higher bandwidth cable modems. On the EDGE network, we usually got 140 to 160 Kbit/sec, though we sometimes saw lower speeds and sometimes saw as much as 190. That translates to 17 to 20 KByte/sec; the MacInTouch home page takes five to six seconds to load at this speed.
iPhone switches between WiFi and EDGE seamlessly, preferring WiFi where available. We even found we could turn off WiFi while loading a large web page, and iPhone switched to EDGE and kept loading.
Safari does not support Flash, Java, or even QuickTime plug-ins. Oddly, there is a setting to disable plug-ins, but we don't know what those plug-ins might be! Safari is an excellent client for Ajax applications such as Gmail that pay careful attention to platform independence, but we couldn't use Apple's own .Mac webmail to compose messages. Admittedly, this particular application is unnecessary to iPhone, but it shows a limitation of iPhone Safari with Ajax applications that make too many assumptions about the web browser's capabilities.