A little off-topic, but can someone tell me why fingerprint-access is even a needed feature? With PIN access, you get good enough security when you also enable the lock-after-10-mistypes. And 4-digits is only about a few seconds slower than fingerprint access...and since you already have instant access to incoming calls and to the camera, in what situations do we need insta-touch access to our phones?
Phones are getting stolen and compromised because people are too lazy to do the PIN thing, I suppose...but it never seemed like it was in Apple's best interest to make phones brickable.
If I were to take a massive guess on this (and this is a massive guess). I would say that for the lifetime of the phone being unlocked with your fingerprint you could do things like pay for items etc.
They may be lining up for banks or other authorities to start allowing finger print recognition in their systems and apps to make bank transfers or pay for items in general and that your finger print would be the authorisation.
It may be one level more secure when they implement NFC.
I don't know though, I doubt they have done it simply because people want to unlock their phones 1 second faster.
It improves the security of my phone in the real world cases that I'm likely to encounter. Like friends, coworkers, family members, and significant others. It's trivial for them to observe my pin, but lifting a print and creating a fake finger ala Mythbusters or compelling me by force is beyond their resources.
So it's a trade off, giving up security against a determined threat for a gain in security against casual threats.
I don't use a pin because I don't want to have to enter one every single time I want to quickly check something on my phone. Those extra few seconds would be a many-times-a-day annoyance, and I try to keep my day annoyance-free.
Since a fingerprint scan is faster, it is security I would probably use. (And the hyperventilation about hypothetical 5th amendment issues doesn't bother me one iota.)
Er, iphones and other fancy smartphones are being stolen because they fetch hundreds of dollars from black-market wholesalers and unwitting craigslist buyers. Not because people don't use a PIN. Of course, using a PIN is a good idea in the event that the person who eventually gets possession is an identity thief.
It's a 'needed feature' to avoid the hassle of passwords in general. Unfortunately Apple has, as usual, snatched lame from the jaws of awesome by rendering the fingerprint reader inaccessible to apps.
Phones are getting stolen and compromised because people are too lazy to do the PIN thing, I suppose...but it never seemed like it was in Apple's best interest to make phones brickable.