@alexatkin
I have played lots of games on the iPhone and I find the touch screen works really well. In particular, Cubes, Galcon, Rolando, Scramboni, Topple and WordPop. I don't see the lack of tactile feedback as a problem as long as there is audible feedback. Playing a game like Rolando is a bit weird without any sound. With the sound on, you can get really good, fine control over the characters on screen and I find the touch interface a pleasure to use.
However, I see your point about pinball games, where you want your fingers resting on the keys to allow lightning fast reactions. You could hover your thumbs just above the screen, but this could become tiresome.
I might download Pinball Dreams and give it a go. Hopefully they will also port Pinball Fantasies!
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moto