The MyFlyertalk issue was discussed with some of our beta-testers, so I'm going to paste in my response to them here:

MyFlyertalk is basically a branded version of the generic vBulletin UserCP, so I'm going to speak to this issue in that context, mostly because this application is being built generically for all vBulletin forums, not specifically for Flyertalk. I also want to make note that I was only in a few of the many meetings where the application's IU was discussed, so I'm speaking from a general understanding. For more details, I can try to get some of the product team in here. Since I was present at some of the meetings, I was able to give feedback along the way specific to my understanding of Flyertalk use-cases, which I hope will benefit the community and the mobile product.

The UserCP is a nice portal where users can view subscribed threads, PM's, and settings. It's a really great feature of vBulletin. When building the iPhone app, they bounced around some ideas on how to handle the UI, and they found that the concept of a single consolidated UserCP is difficult to do on a mobile device. They decided to split the functionallity into separate sections because it makes the user experience better.

Pretty much all of the functionallity is there-- when you sign in, the first thing you see is your subscribed threads. If you want to view PM's, you should always be two clicks away via the ubiquitous button at the top. You're "notifications" should give you heads up of the various things that you might want to look at.

Obviously, some features, like editing your settings, are missing. This is very common among native apps, as I think the only time I actually log into Facebook or Twitter are to manage these types of things. I don't know which of these missing features the development team plans to implement, but I feel that those decisions will be based on feasibility and feedback from users like you. The reason why the vBulletin team asked us to offer this to Flyertalk is because they want to know from first hand users what your opinions are regarding functional requirements.