As Details emerge of first cell phone worm, it shouldn't really be a suprise to anyone that this has happeneed as more and more functionality is added to phones and the codebase size increases, we can expect to see more malicious code taking advantage of those vulnerabilities (I wonder when we'll see the first mobile phone A-V software ;op)
Whilst the current virus hasn't really had a huge impact, it is quite easy to see how one could be pretty devastating. For example the current one is spread via bluetooth which is fairly short range, however if a virus was able to cause a phone to dial all the numbers in it's phonebook and transmit itself over this channel (or perhaps via a text message) you could see a pretty fast and wide spread....
One point that, at the moment, mobile phones have in their favour over the PC world is that there is no one dominant OS or vendor, so any virus would automatically have a limited spread...
