I think this looks pretty nice, myself. I like the brushed aluminum back. And the outside metal strip looks darker as well. Not sure what people want for a new design. It will be longer... that's a given I'm pretty sure, based on all the leaks for the last year. It will have the new iPad (3) internals most likely. The dock connector will change but we get better speakers (hopefully) because of that. (I think the the 4/4s speakers are pretty terrible and don't get loud enough, especially when using speaker phone.)
The metal back should help with reception, I am hoping, so no repeat of "antenna-gate."
And for all those that think Apple innovates on exterior design all the time... Your wrong. You just need to look at the MacBook Pro's and Airs... they don't really ever change much besides internals and ports. Also, the iMac really hasn't changed a lot, either, over the years--other than exterior color schemes.
Also, finally, I will bet this will just be called the "New" iPhone, like they are doing with the the iPad.
Just my two cents.