Is this a joke? I honestly can’t tell, because of all the following:
– Mobile Safari already supports local storage
– Mobile Safari already supports geolocation: http://geekswithblogs.net/MobileLOB/archive/2009/06/19/getti…
– Mobile Safari also already has other portions of HTML 5 implemented, such as canvas, not to mention really good coverage of css 3.
So as it turns out shipping Mobile Safari already has much better HTML 5 support than many desktop browsers. You may be able to fault iPhone and Mobile Safari a lot of things, but standards support is certainly not one of them.