The Missing iPhone 2.0 Enterprise Feature? — Enterprise Data Encryption

Steve Jobs presented a list of features demanded by the enterprise for iPhone 2.0.
I was surprised to still see data encryption missing from the list. Especially with beta testers like the military and healthcare / pharmaceutical companies.
Remote wipe may solve some of these concerns, but I would still worry about my device and the stored data (like email) if it ended up in the wrong hands.