Personally I think it's ok and I really can see the pull and attraction to it.
It is good the babe's use it and we can talk to them ( sort of ) through messages.
However, it does have a few weaknesses to.
It cannot sustain a high character count - meaning anything you want to say has to be limited down to slang or serverly reduced.
It cannot share audio files, video - although I do beleive that is in the process of being implemented.
The security is poor. This one concerns me especially as Celebrity's use this site alot. Anyone can copy and paste the text onto site's and forums, protection needs to be implemented into the later versions.
The whole point of Twitter is that it's simple. If they add all the stuff you mentioned they'll ruin it. It's not about essays, audios, videos or pictures. It's about updating your status with whatever you want - short and sweet.
As for security - you can protect your updates so only people you approve can see them.
I voted the second option. It's alright. At the moment it's actually better than MySpace & Facebook.
I voted for it's alright.
I like that there are lots of celebs on it and stuff.
I'm sure it will be improved as it gets bigger and more users.