Goldman Sachs' analyst David Bailey thinks Apple is going to release a new iPhone version in Q2. He says that the second-generation iPhone is almost ready. The second-gen Apple Phone may be preceded by an iPhone with a bigger flash memory, which will be welcome news to Apple fans.
The analyst estimates the new iPhone version will not stray too far from the look of the original but 3G connectivity is almost a certainty. Changes in the LC of Apple TV and a new Mac line is also seen appearing in about the same time frame.
Update: David Bailey...you are an informed man. The iPhone 2.0, better known as the iPhone 3G, got the high speed data you predicted and does indeed look very similar to the original.