The latest? Actually, some stuff that I hope turns out to be correct.
First up is a processor upgrade. The current iPhone has a 400MHz chip inside. The new one looks as though it might have a 600MHz chip. That's a nice improvement. What's even better is that the RAM of the iPhone could be doubled from 128MB to 256MB. These two upgrades alone should give the iPhone a serious performance boost.
Other new features include an FM radio, something the iPhone has lacked forever, and a compass (software supporting a compass has been spotted in the iPhone OS 3.0 betas). The reports also mention 32GB of internal storage and a 3.2-megapixel, autofocus camera -- both of which have been reported in the past.
The disappointing aspect of the new information notes that the case, appearance, battery and screen of the iPhone will remain unchanged. Not that that's the worst news ever, but it would be nice to see a few more pixels packed into that display, which has some serious competition these days. And, who doesn't want better battery life? If Apple plans to keep the iPhone's battery the same, I sure hope it has drastically improved the power management software in the device.