Apple may have done a die shrink on the iPhone 4's A4 processor to lower cost. This would follow the same method used for the iPad 2 WiFi Rev A, when the A5 went from a 45nm process to a 32nm process. These shrinks make it so you can manufacture more chips at a time (more per wafer). Apple was able to lower the price of the iPad 2 by $100 as a result.
I'm wondering if this is related to the recent rumors of a cheaper iPhone. Good find!