Twitter has been boiling with iPhone stuff the whole day. Conference is happening right now, it seems that iPhone 5 will have a 1136x640 pixels screen and will be a 20% lighter and only 76 mm wide. Looking nice so far.
+ Longer battery life
+ Twice as fast
+ Bit larger screen (luckily not too large)
+ Better camera / panorama / film 1080p and make photos at the same time
- New connector
- Still not water proof, what I would've wanted