Once specially formatted for the iPhone, iGoogle has changed to the same format found on Android and a few other phones. The previous version, which had the ability to display web gadgets as well as show and hide various objects on the page, has now disappeared. A more universal version has taken it’s place, with no reason being given. With apps such as Google Mobile available for the iPhone as of now, another iPhone tailored portal would be pointless and redundant. Sure, the new iGoogle may not be as good looking or simplistic, but it’s less for Google to handle. A universal page allows Google to maintain and improve one thing instead of many. However, if you really miss it, hopefully someone will find a way to restore it.
Via [iPodNN]
It's "its," not "it's."