Having a chose between advanced and simple mode could be nice.
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I think more useful features should be implemented via menus that are hidden by default. This would allow people who want to use the Peek as a basic email only device to get what they want and facilitate the needs of more advanced users. You could have it so, for example, typing a secret code into the Reset box would cause the Peek to reset and display the new menu options for calendar, advanced email account settings, etc.