I guess on the flipside they might reckon having 2 months of sales of lower level is worth it (run down the stock, sell off refurb/ reduced price etc) for the chance to have 2 months of build up?
They're going to lose some sales whenever the FCC news hits, unless they can have a really small FCC releace to shipping time period.
I take your point about having 2 events. The flipside of that is having a *huge* event. It'd make more sense if you wanted to have a softer release of a 3G iPhone - use the 1st version to iron out the bumps in terms of the Application store, SDK etc, then have a solid line up ready for a smoother new iPhone release.
But doesn't Apple risk losing it's key selling points. I totally agree Apple is several years ahead in terms of OS - but that is a deeper thing, and sometimes cosmetic views can deceive consumers.
I'd say that Apple has the lead in terms of accessibility to the internet, but not the speed (by the metrics, the internet data usage of the iPhone is much higher than most other handsets).
Wouldn't Apple want the chance to cement in the public's view, that the iPhone is amazing, and it's new version has some great new updates?
If the GUI isn't going to improve much more, and there will soon be lots of touchscreen rivals, why not push further, and get the brand out there - so that user prerequisites, expectations, have been increased to not only touch screen, but music store (ipod capabilities, iTunes like app) and also Application store. By getting people hooked/aware of the apps out there by June, it'd weaken other handset manufacturers key selling points.
Having moved on from the GUI, and move to wanting/automatically making a prerequisite of rivals to have not only touch screen, but also be a rival in terms of music, and in terms of games, and applications -
The SDK talk seemed to show that the iPhone has so much potential to kick ass in many new areas (Games, business and non business apps).
However, i'll admit, the above doesn't necessarily need a 3G model to push it through. One problem would be, that if you did have a spike in sales come June time, then you'd have more people kicking themselves for buying just before a hardware upgrade came (5Mpixel cam with video, 3G, better battery life etc). If you launch both, you don't have that problem. So that'd mean potentially as you say, an FCC Apple announcement ~April to give 2 months so they're on sale Come the end of the keynote at WWDC.
If you announce in June, you can release August, before back to school? If the sales (the phone, and if it's not hacked, the monthly slice from the network) are spread out financially over a length of time, then financially the sooner the you've got customers, the better, no?
I guess we'll see

Fun to spar over it - hope you don't mind my slightly opposing view on timings - it's all conjecture from my side hehe
Good grief. Saying that doesn't mean the iPhone will use that chip. Their comment is as meaningless as the other pictures in that PowerPoint slide. Ever make one of those for business? I've made hundreds. You grab whatever pictures look cool on the page.
And look closer. They say the chip is good for "Premium Smartphones", and then they show the iPhone as just a "Smartphone".
The slide is painful I agree! - Intel's got some work to do, but I don't doubt it'll try to muscle in on the larger MID/ tablet market with their new chips come 2009. The labelling is dodgy too - might make more sense after hearing the presentation, who knows.