Apple's AppStore was launched today, providing the first 500 third-party applications to iPhone and iPod Touch users. Apparently, around a quarter of these are free, while most of the rest cost less than $10. About a third are games. The applications can only run on iPhones and iPod Touches updated to the latest firmware, 2.0, or on the iPhone 3G which includes the new firmware. There's also the need to upgrade to iTunes 7.7.

The iTunes version 7.7 also includes a free application, dubbed iTunes link, for iPhone and iPod touch users that let you control your iTunes library directly from your device, anywhere in your home.

The 500+ software applications are really the reason why the iPhone could be the future of mobiles. However, one should remember that there are nearly 20,000 applications for the Windows Mobile platform, meaning iPhone developers have a long way to go, at least in terms of numbers. However, companies like Facebook, Bloomberg, AOL, eBay or Sega have already lined up to the AppStore.

Practically, every developer can submit their applications to the AppStore. If it gets accepted, Apple would retain 30 percent of all sales revenues. Users can download free applications at no charge to either the user or developer, or purchase priced applications with just one click. Third party iPhone and iPod touch applications must be approved by Apple and will be available exclusively through the App Store.

Already EA presented a version of Spore, the upcoming game from Will Wright, the mastermind behind games like The Sims and SimCity. SEGA released a version of Super Monkey Ball, a game that first appeared on Nintendo's GameCube console. It is quite possible that Apple's gadget will soon be a major mobile gaming platform.

The AppStore had to open a day earlier than the iPhone launch, apparently due to the fact that in New Zealand the gadget is already on sale. In order to purchase and activate the iPhone 3G tomorrow, U.S. customers will need their credit card, social security number, valid government-issued photo ID and current wireless account number and password or PIN (for those new with AT&T).

iPhone 3G retail stores will probably deal with some supply shortages these days, before the next shipment is expected.

Several early reviews have already highlighted the pros and cons of the new Apple iPhone 3G. As it turns out, the long-awaited next-generation iPhone is better than its predecessor, but also has several flaws which question whether those who already own iPhones of the first generation should bother to upgrade.

Those pondering the upgrade to a 3G iPhone should remember that the upcoming 2.0 firmware, available for free to all first-generation iPhone users, will bring to their "old" gadget most of the functionality of the iPhone 3G, minus the 3G support and the GPS antenna.