Unless you were hiding under a BlackBerry this past week, you already know that Apple (Nasdaq: AAPL) has introduced the latest version of its amazing iPhone. The iPhone 4 features HD video, two cameras, "retina display," and multitasking.

Still, for a device this advanced, we think there are some important features missing. After polling several of my co-workers here at Fool HQ, I've assembled some of the more obvious omissions.

Top 10 Missing Features on the New iPhone

10. Personal Reality Distortion field. (Wait, that one's already in place.)

9. One-touch buttons to prank-call Sergey Brin, Larry Page, and Bill Gates.

8. A TASER app that actually works.

7. Steve Ballmer ringtones (Monkey Dance or Developers versions).

6. Flash support [Editor's note: This one isn't as funny for Adobe shareholders.]

5. An app to make the user less smug.

4. Time machine option that allows you to go back to 2002 and invest in Apple when it was at $7.

3. Turtleneck press.

2. i911 (automatically calls for an ambulance after you crash your car while texting).

1. A "Switch to Verizon" button.

Joking aside, the iPhone 4 is expected to be another big hit for the company. In conjunction with the successful iPad launch, many analysts are raising earnings and price targets. I'm personally impressed with the new features, which continue to help move the iPhone away from the concept of a "phone with features," and more toward a "computer with a phone."

Fool analyst Rex Moore is ready to upgrade his first-generation iPhone. Apple is a Motley Fool Stock Advisor pick. The Motley Fool has a disclosure policy.