Notice the back cover of the April 27 issue of Fortune magazine? It's one of the smartest print ads created in a long time. And it's one reason why the BlackBerry folks can't gloat anymore.

One of the leading complaints against the Apple iPhone -- excluding the AT&T wireless service itself -- is its inability to compete with the BlackBerry for business use. Not any longer, at least based on the headline in the brilliant Fortune ad from AT&T and Apple: "Helping you run your small business, one app at a time."

While ads for wireless carrier data plans or mobile devices are commonplace in online and offline media, for Apple and AT&T to take out an ad on the back cover of the nation's most prestigious business magazine itself falls in line with old war philosophy: the art of defense is attack. And Apple is defending the iPhone's reputation by proferring its business-friendly virtues.

Copy in that ad is entirely devoted to the many applications available in Apple's iTunes App Store. Twelve different applications are highlighted on the iPhone homescreen to reinforce the point that the phone is ideal for small business.

Seven of the featured applications are paid. One of them is the Credit Card Terminal. For a $49.99 download, users can turn their iPhone into a mobile credit card terminal and accept customer payments while on the move.

Another application is the $6.99 Print & Share. IPhone users can wirelessly access email attachments, photographs and other documents that are on their computer and print them directly from their device to a local printer.

The $29.99 LogMeIn, already a popular service online, is available as an iPhone application that can let users remotely view their computer desktop over the AT&T 3G network or Wi-Fi connection and access files when outside the office.

Continuing that theme, the ad touts the $12.99 Quicksheet application. Users can create, edit and save spreadsheet files on their iPhones. It has more than 125 spreadsheet functions, working just as it does on a computer.

A mere $3.99 download begets the Jobs -- Time Tracking application that lets iPhone users track billable hours across multiple projects. Users can also create timesheets that can be exported and edited in almost any spreadsheet program.

Want to know how the Web site is performing? Download the Analytics App for $5.99 and view metrics on the site's unique visitors, page views and other statistics using customizable reports.

And what if the iPhone user isn't there yet? In another words, about to start a business? For a $14.99 download, the Nomina application will help the user pick a name, find available Web domains and run trademark searches on the iPhone.

The free applications include the mind-mapping SimpleMind Xpress service to help the user visually express and organize thoughts and ideas; Mint.com to synchronize the user's online financial accounts securely in one place; and YellowPages.com to find specific stores and businesses near the consumer using the iPhone's GPS function.

Of the two other applications lucky to get a plug in this iPhone ad, the FedEx Mobile service emphasizes the iPhone as a small business tool. Users can not only track FedEx shipments from the iPhone, but also create shipping labels, get rate quotes and find the nearest FedEx office.

And then there is Jott. Users can simply speak into the iPhone's built-in mic and Jott converts the recordings into SMS, email or online notes.

Appy hour, not happy hour
Now what's the point of highlighting all these applications if not to emphasize the iPhone's utility as a productivity tool with applications designed to conduct business on the go? Isn't that the BlackBerry's claim to fame? Add a QWERTY keyboard and better email functionality and the iPhone has all but obliterated the difference with BlackBerry.

Read the boast at the bottom of the AT&T/iPhone ad: "The best phone on the nation's fastest 3G network gets even better, with over 25,000 apps on the App Store. iPhone users have already downloaded over 800 million, in every category from games to business."

The ad perhaps understated the numbers. Apple is said to be closer to 27,000 applications on the App Store and close to 1 billion downloads in the next few days.

If anything, the ad proves a few things.

First, that print advertising still plays a tremendous role in branding, highlighting benefits and features in a way few mediums can.

Next, it shows AT&T and Apple's gumption -- and even determination -- to not let the market pigeonhole the iPhone any longer as a toy for star-struck fans.

Finally, it proves that, with all the slew of new phone launches and application stores, the iPhone promises to remain a key mobile device for both consumers and businesses. Can Research In Motion prove that the BlackBerry is as consumer-friendly as it is business-purposed? That's the next campaign to watch.