All over the web all you can see are iphone 2.0 rumors.
From all the stuff I have read here is what I can tell you.
It will be 3Gb will be cheaper and lighter and will have GPS. Will come in 16 and 32 GB sizes. It will have world wide launch. It will be sold unlocked. It will be similar looking to iphone 1.0 with nip and tucks here are there. the date is June 9th. It will come in three colors.
There are other out of the box suggestion like it will have slide out keyboard and will be available in smaller sizes etc. But these rumors are bogus I think.
Will I buy one? not at least for another six months, I am really happy using my current iphone. Which is working flawlessly, the best experience I ever had with any other mobile. Here is the list of mobiles I used in the last five years.