I'm not a huge fan of MMS in general. I tend to dislike device-specific protocols and prefer ones that work across platforms and devices, so I'm fine with no MMS. Email integration could, and should, be better however, and should transparently handle that for the end user.
The user should only ever have to taste the sausage, not see how it's made. Slap a great, iPhone front end on a communications App, and automatically parse email, MMS, SMS, IM, and all other protocols behind the scenes.
That way, whether I'm on an iPhone, a laptop, a desktop, a feature phone, an eBook reader, or a watch, I get as much message as my bandwidth and chipset can handle, regardless of the tech driving it.
Get on it, Apple!