Regardless of any functionality this phone will have, it only takes a very short time to come up with the "if-one" pronunciation of iPhone. I can't imagine that Jobs would let anything that could be turned into a such an obvious mockery of Apple be released. I have no idea what the phone will be called, but I am betting heavily against "iPhone" - and yes I have been following all the reports on companies being purchased etc.
There, fixed it for you. We are as dedicated to exploring ways in which product names can be twisted as we were about making fun of our classmates' names back in kindergarten.