Agreed :-) Back when tethering could be turned on with iPhone 3.0 betas on AT&T, all I needed to do is click on my Bluetooth icon in the menu bar, click the menu option for the phone, then click connect. When I was done, same procedure. Never had to take my phone out of my pocket or fiddle with settings on it once the phone had been paired with the computer (a one time setup).

Now what would have been really slick is if the iPhone paired to the Mac in a way to route voice calls to the computer speakers and microphone. Would allow both bluetooth tethering, and the ability to make calls at the same time without the phone leaving my pocket.