Patrick Smith (whose new blog SMS is the New Black has got a plethora of thought-provoking posts) has written about an interesting phenomenon: the use of the term iPhone as a generic word instead of "smartphone".
It makes a lot of sense to me - I don't really hear "normal" people ever talking about smartphones. They certainly don't care about technical distinction like open operating systems. Frankly, the term "smartphone" is pretty geeky, and almost guaranteed to turn off a sizeable part of the potential market.
No doubt that Apple's lawyers and branding mavens will hate this as much as their peers at Nokia, RIM and others. But I can certainly imagine it happening, especially in Europe where technical jargonese often tends to be viewed as deeply uncool.