At WWDC 2010 Steve Jobs announced details of the new iPhone 4. As suggested on the iPhone 4G dissected post:

• Front-facing video chat camera (CHECK!)
• Improved regular back-camera (CHECK!)
• Camera flash (CHECK!)
• Micro-SIM instead of standard SIM (CHECK!)
• Improved display. (CHECK!)
• What looks to be a secondary mic for noise cancellation, at the top, next to the headphone jack. (CHECK!)
• Split buttons for volume (CHECK!)
• Power, mute, and volume buttons are all metallic (CHECK!)

Other facts:

• Hitting the US stores on June 24 - three weeks!
• Aluminosilicate glass - 20 times stiffer, 30 times harder than plastic
• 326 pixels per inch - 960x480 resolution. Finally a decent super res on a small device!
• Based on the A4 processor - Apples own after recent purchase of P.A. Semi
• Gyroscope and Accelerometers - Means measuring direction and angular momentum - much more useful for gamming interfaces
• Shots HD (720p) Hi Def video with direct youtube integration
• Significantly increased battery life - finally!!!

A good round up of the details on a Silicon Alley Insider article. Trying to find out when it hits NZ!