Apple has just given the world its first look at iPhone 3.0 — an upcoming version of the system software for its smartphone and handheld. Among the highlights are peer-to-peer gaming and cut, copy, and paste. Still missing, however, is support for running third-party applications in the background.

The company gave a preview of the next-generation iPhone software to journalists this afternoon.

The first new feature announced was In-App Purchase. This will allow companies to sell items from within applications. On-device e-book stores is one example, but developers will also be able to sell additional levels for their games. Naturally, this will still be tied to the iTunes App Store, and Apple will get 30% of the revenue.

Next to be announced was peer-to-peer connectivity. This will allow two iPhones or iPod touches to connect to each other over Bluetooth to play head-to-head games. Thanks to this upcoming feature, two devices that are near each other and are both running the same game will automatically seek each other out. While gaming is the most obvious use for this, Apple promised there would be others.

Cut, Copy, and Paste

Confirming the earlier rumors, iPhone 3.0 will — finally — allow iPhone users to cut-and-paste and copy-and-paste. Naturally, the process for selecting text will take advantage of this device’s multi-touch screen. This feature will be available in Apple’s own software and third-party apps.

And it extends to more than just text. Users will be able to copy images and paste them into an email.

MMS, A2DP, Etc.

iPhone 3.0 will also mark the arrival of other features long available in the iPhone’s competitors, including MMS messaging, Stereo Bluetooth, device search, and voice memos.

In addition, landscape support is being added to more of the bundled applications.

Apple is also going to release a new SDK (software developer kit) for handling streaming audio and video, including HDTV streaming.

Still No Multitasking

Apple had some good news and bad news for users. The bad news is that it’s still not allowing multitasking because running third-party applications in the background is more than the device can handle. Scott Forstall, Apple SVP iPhone Software, who handled much of today’s presentation, said that an IM application running in the background reduced the iPhone’s standby battery time by 80%.

Instead, the company is promising the launch the push notification service it announced with iPhone 2.0. This will allow applications that aren’t running to receive a notification that an event has happened, like an IM message is waiting. These notifications will be routed through Apple, and will require considerably less power than true multitasking.

Also Missing…

During a question-and-answer session, Apple’s Forstall was asked about a couple of other long-awaited features that weren’t announced today: a Flash player and tethering.

He declined to talk about the Flash player, fending off the question by pointing out that the iPhone already handles h.264, the streaming video format used by YouTube for its mobile site.

On the subject of tethering, Forstall said that Apple was working with carriers around around the world to build that feature into the iPhone. However, he did not get specific on when users will be able to use tether their smartphone to their laptop to share the Internet connection.

New Mapping Options

In addition, thanks to tools that will be released as part of iPhone 3.0, developers will be for the first time be able create software with maps embedded into it with relative ease. This API will provide the tools, but developers will have to supply their own maps; they won’t be able to use the proprietary ones that are part of Google Maps.

In addition, Apple will start allowing developers to access the iPhone’s location information to create navigation software with turn-by-turn directions.

Coming to an iPhone 3G Near You

Apple released a beta of the developers tools today, but iPhone users will have to wait until June to upgrade their device.

It will be available for free for the iPhone 3G and the first-generation iPhone. However, the original model won’t support MMS messages or Stereo Bluetooth.

Users of the iPod touch will also be able to upgrade, but it will cost $9.95.

Via Engadget