With each annual iPhone refresh along with major software iteration, the list of demands for software features shrinks.  We wanted third party apps, we got 'em.  We wanted cut, copy and paste, we got 'em. We want multitasking applications and it looks like we're going to get it.  At least that's the latest report over on AppleInsider.

As Apple plays catch up in a race they set off, in some areas they're now playing catch up to competitors like WebOS and Android.  Detailed by AppleInsider, sources familiar with the latest versions of Apple's 4.0 software to be released this year, multitasking support for third party applications will follow in their desktop OS's footsteps with an Expose-like application manager to make switching between applications running in the background super simple.

iphoneexposeThe current build triggers the iPhone's Expose with a double press of the home button that displays currently running applications.  Select your app and Expose will zoom out and transition to the selected application.  Unlike its desktop counterpart that displays smaller images of open windows, the iPhone will display icons of the running applications to make it easier to distinguish between applications on the smaller screen.

As we can expect version 4.0 to launch with the next iPhone hardware revision this summer, it's also realistic to expect the iPad to adopt the same features as its calling-capable sibling.  While we won't know which iPhone versions will upgradable to OS 4.0, most iPhone owners have come to expect a free OS update whenever it's announced.

Excited to run Pandora while you're browsing Safari?  What other features do you consider a "must" for version 4.0?  Let us know in the comments!!