• Silicon.com, Friday, January 19, 2007 11:31 AM

Before we begin, let's be completely honest: it doesn't really matter what the CIO panel think about Apple's new iPhone--ultimately the market will decide. Remember, as TheStreet.com's Jim Cramer said, "Apple has cachet," which trumps everything else, so if consumers think the iPhone is cool, well, cool rules.

What chief Internet and technology officers can tell you is if the iPhone is worth it from a money and technology standpoint. Six of 12 high-ranking tech professionals selected in a "jury" by Silicon.com, said "no." Here's why:

The price, at between $500 and $600 depending on storage space, is too high, though once the product has settled into the market, it will drop in price.

Others say the iPhone won't make a significant dent in the business professional market. Says Peter Pedersen, CTO at Rank Group: "It is unrealistic to expect business to be a significant adopter, as the cost/benefit to the business is in a grey area. It definitely will fall into the perks category for now."

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