This could easily be real if you assume that it's a "budget" model iPhone.
The reason for the original iPhone back being in two pieces is the antenna needs a plastic housing as opposed to metal. Add the "speckled" look and the (apparently) more curvy shape, and it seems we have to be looking at a fibreglass housing, and not a metal one. The fact that it's an 8GB phone when all indicators are pointing towards the 8GB models being discontinued in the near future also screams "budget" to me.
If Apple is indeed coming out with a 16/32 GB, 3G GPS enabled iPhone, then it will likely be introduced at the same price as the original iPhone. If history is any judge, Apple might easily decide to produce a "nano" product with most of the basic features of the original at a smaller size and at a cheaper price. I don't have an iPhone to compare it to, but from the picture it looks like that iPhone might be substantially smaller than the current iPhone.
So... wild prediction is we are looking at a cheap-ass fibreglass shell "iPhone nano" from the rear.