Yes folks... the rumors were true and the "lost phone in a bar" was an actual prototype it appears. Lots of new specs including two camera's, video chat called "face time", double screen resolution, HD video recording, and the same processor as in the iPads (so it should be fast!). And of course new iPhone v4 software to go with it. Here is a link to Apple's site for more info.
Pre orders starting June 15th... In stores June 24th.