The big Zapruder: Jacks, Connectors and waking the iPhone from Sleep

Notice how in the settings, he is carful to scroll down, and stop right when it gets to the iPod.. what else is down there??... cause you can see the scroll bar isn't to the end .. yet.

@9 - Pieter: As other have stated, that is most likely not a LED indicator, but rather a push-to-release for the SIM-card tray. Much like the battery tray on the Apple Remotes.
They have also stated that the battery will not be replaceable, so my guess is that you have no way of getting into the iPhone without a screwdriver and some brute force.

@17 & 19 - Trey & Kofi: I have wondered about this too, we have seen nothing from the calendar app, other than a screenshot featured on the iPhone page and in the Keynote. I really wonder why, it seems such a big feature not to make a video or tutorial about...

Scott Forstall revealed in the WWDC Keynote that it's also possible to wake the iPhone from sleep by simply pressing the Home button. It's nice having a choice!

So why is it they neglected to mention the SIM tray in the video? Also, why is there no demo of the Calendar application? Isn't this an important feature? Even Steve Jobs who mentioned during the keynote that he was going to demo the calendar app totally forgot to mention this? Or did he? Is there anyone who can say summin on this?

The AT&T rep at my local store said that the "iPhone Features Plan is $39.99 plus whatever voice plan you choose."

The movie is GREAT! But why are they not showing anything about the calender app??

I'm going to go for it and say that the Notes application will have full Word and PDF support.

@9. Of course this is all speculation, but I'm betting that "LED" is actually a hole that works as a release switch for the SIM tray (remember the old CD tray emergency release holes?). I think if it was a battery indicator (or any other consumer feature) it would be marked in the video, but since it's the only thing on the phone that isn't marked or mentioned in the video, I'm betting it is not for cunsumer use, and therefor is probably a SIM tray.
Again, this is all speculation.

I don't think that is an LED beside the SIM card tray. If Apple is true to form, that is a tiny hole just big enough for a straightened paper clip. Push the paper clip into the hole to eject the sim card.

1. + 2. I thought that was a SIM card tray as well, but after thinking about it, I couldn't understand why it would have an LED next to it.

I remembered my dad's iPod Shuffle (first gen.) that had an almost identical indicator, that, when pressed, glowed green or orange to indicate its charge. I believe that's what the alleged SIM card holder is: http://www.girr.org/mac_stuff/ipod_shuffle_back.jpg (via Google Images)

I would imagine the SIM card and the battery are hidden behind the silver backing above the black piece. I'm assuming that you'll be able to remove the silver part (but not the back piece connecting directly to the 'iPod port,' speaker and microphone) which would allow the SIM card and battery to be removed. It will also allow for easier tech support for Apple Genii or AT&T employee. I don't see any valid reason why Apple should prevent you from opening this. People will hack into the iPhone regardless, and you have to buy a contract with AT&T anyway, so I doubt people will overwhelmingly swap SIM cards. We'll see…