This is the reason people should always wait until the second or third release of a product... The new iPhone, with everything the old iPhone had but better and cheaper! With thinner edges, a full black plastic back, flush headphone jack, and it will be 36% faster than Nokia's N95 and Treo 750 in terms of pageloads. It also has improved battery life with 300 hours of standby, 8-10 hours of 2G talk, 5 hours of 3G talk, 7 hours of video, and 24 hours of audio. It will also come with GPS, so you know where you are all the time.
For US residents: 8GB is available for $199 and 16GB will come in white for $299. Available on July 11th, pre-orders are available now at the Apple store.