“I have owned various versions of the Treo for about three years (the latest the Treo 750). I have enjoyed most functionalities of it, with the exception of the Web browsing, which was slow and cumbersome,” Doug Kass writes for RealMoney. “I am not a typical first adopter, but I was unabashedly influenced by the buzz surrounding iPhone and purchased it on the opening weekend of its introduction.”

“To sum it up: iPhone is a game changer, and I finally get what Apple bulls have been on to for awhile. That said, with the shares up dramatically both absolutely and relatively, I am late to the party for Apple as a short-term consideration,” Kass writes.

“Currently, the stock is being driven by other products — namely iPods and more importantly, Macs. The company is gaining considerable market share in these products,” Kass writes. “In the market correction I envision, Apple will likely be a buy candidate based on what I know now.”

Full article, in which Kass lays out his iPhone positives and negatives (many of which can and most probably will be addressed by future software updates) here.

[Thanks to MacDailyNews Reader "Mike in Helsinki" for the heads up.]