The New York Times’ Jenna Wortham thinks we are. She has about 259 apps installed on her iPhone. While I have roughly 170, I do have to agree with her: I hardly use 20–25 apps on a regular basis.
I never did get the point of jailbreaking your iOS device to then go and download a paid tweak from Cydia, but this next addition that you can download really makes the difference. Something that I've really been wanting for iOS is an easy way to reply to text messages without quitting my current open process; an annoying task to exit your applications every time you decide to simultaneously get social. Messages+ for jailbroken fixes that issue, which really makes me want to jailbreak my 4S. Unfortunately, I can't do so with an untethered jailbreak, quite yet.
YouTube on the iPhone was a great idea, but how many times can you watch "OK Go, on Treadmills" or "Skateboarding Dog" before you're sick of it? Personally, I think Google Video is where it's at. It has a much better interface and it's a hotbed for documentaries. The only problem is that Google Video is based on Flash. Fortunately, there's a really easy work-around built right in to Google Video.