Here is a brief rundown of what's new
Glass front and back (yay more fingerprints!)
Stainless steel trim all around
Apple A4 chip processor (same one as found in the iPad)
256MB RAM (2x 128MB)
Battery 16% bigger
960 x 640 IPS-based display (Retina Display)
5MP back camera (main) with LED flash
VGA front camera
Gyroscope (now your iPhone will work like the Playstation 3's six-axis controller)
Face Time (video call)
Now..apaprently, Apple's Face Time will only work over a WiFi connection and will only allow iPhone 4 to iPhone 4 video calls.
This is a big set-back from the normal conventional 3G Video Call in which you are able to video call ANYONE ANYWHERE regardless of what phone they are using or what network they are on, as long as the phone is one with video call feature and they are in a 3G coverage area.
Of course, there would probably be apps available which will allow for video call over a cellular data network. One that I can think of right now is Skype, but still..Skype will only allow us to video call another person using Skype.
So, how do we get around this?
Meet the iPhone 4.5