A person who has no idea how to use their iPhone, iPod or other similar product.
"Jenny had no idea that you can double-click a photo to zoom in on the iPhone."
"She's such an iRetard."
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When a car is way slow taking off at a green light because the driver is still text-messaging, checking email, playing Angry Birds or using other apps instead of watching the traffic.
I was only four cars back but ended up missing that light because three cars in front of me iStalled.
To schmooze with a bunch of wankers (popular term in Australia for people who are tossers, big-noters etc.) - hence "sch-wank". So you use the word to explain that you have to spend time sucking up to people you don't particularly like or rate highly, usually for business purposes.
"I spent last night schwanking at the Annual Marketing Awards."
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