Forrester's Schadler also recommends that your corporate policy be thought out more than most are: "Most firms that support iPhones require their employees to sign a statement that lets the company do a remote wipe on the device and implement other policies in exchange for application support. [We recommend that you] extend this policy-based approach to cover jailbreaking, password requirements, and use of features such as cameras and GPS for work purposes."
In the end, who should own your smartphone? Sometimes the employee, sometimes the company, and sometimes one of each. There are good reasons for all three scenarios, even in the same company. The trick is to understand the ownership options that make the most sense in your context, not fall back to "this is how we've always done it."
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