Despite the fact that the iPhone has just brokered a Middle East peace accord bringing peace to our time, several music execs don’t expect it to light the world of cellphone-based music playing on fire. Never mind that downloading anything over EDGE is quite slow, but the iPhone doesn’t support over-the-air downloads, so even if it were 3G it wouldn’t matter. Apparently Apple is a little gun shy when it comes to over-the-air music delivery and much prefers people to go home, start up iTunes and load music that way. (That method has worked so far, so who can blame ‘em?) Still, some guys, like the head of Warner Music, lauded the iPhone’s arrival, hoping that it will kick start the mobile music industry, saying:

“The introduction of the iPhone is an enormously positive event…. It creates more and more consumers who are looking to buy music, but it also galvanizes the mobile industry to compete.”

Considering Apple makes nearly no money from its iTunes music transactions, I’d wager to say that it really doesn’t care whether or not mobile music finally takes off.

Will iPhone Rock Music Industry? [AP/CNN]