The long awaited sequel to the iPhone is said(by reliable sources at Wired Gadget Lab) to finally be release at the WWDC 2009.
The new version is said to sport

• 1.5 longer battery life
• 16gb and 32gb sizes
• new rubberized back
• built-in FM transmitter
• 3.2 megapixel camera
• Video recording and editing
• MMS
• Double the RAM processing power
• OLED screen
• THE APPLE LOGO WILL GLOW
• built in compass
• turn-by-turn directions
• no more metal band around the screen
• Same price
• Of course the new iPhone OS 3.0