so iOS 4 has mutlitasking because apple says it does, not because it actually does...and that is somehow OK??! Apple are a crazy company.
iOS4 allows you to open an app, do stuff, load up a seperate app, do stuff, and come back to the first and have it exactly how you left it.
iOS4 allows you to open an app, start downloading something, load up a seperate app, do stuff, and go back to the first and it has continued to download in the background.
iOS4 allows you to open an app, then open another, and have the first continue to play music, read out GPS instructions, keep a VoIP call open, etc, all while you're still doing stuff in the second app.
This seems like multitasking to me!