Hi, I'm typically a lurker here. And for the record, I will NOT be getting an iPhone, I think the 1st release will probably have issues (as most tech products do) so I will wait to see whether it will be a good product before parting with my hard-earned money. I'm also quite happy with my Treo 650 and don't see the need to replace it at the moment.
But as a web developer, this whole thread is based on pure misinformation. The specification you linked to is quite clear and unambiguous - 10 MB limit is the HTML code limit, NOT the size limit of the entire web page! 10 MB of actual HTML code would be one enormous web page, far bigger than anything I'd ever want to visit, even on my desktop computer. I doubt I've ever visited a 10 MB page ever, honestly. You'd be scrolling for what seems like days. A 10 MB page limit makes no sense - if that were the case, there would be no point to having QuickTime support in the iPhone(which it does), since QT movies are tend to be much larger than that.
Let's put it this way, both pages you linked to as theoretically "unviewable" on the iPhone actually contain no more than 156K of HTML code.
I know many people are trying really really hard to be contrarian about the iPhone, mainly because they're sick of hearing about it. I totally understand, believe me the hype feels like it's out of control. But please stick with the facts at hand rather than use whatever limited info we have to come to completely false conclusions. Maybe the iPhone will do what Apple says it will, and maybe it won't. I think it would be best to wait until a few unbiased people get the thing in their hands before coming to any conclusions either way.