People seem to always compare the new iPhone with phones that will be coming out, instead of looking at phones that are already on the market. And while they may not be able to compete with every upcoming product, I can't imagine they'll release something that's not as good as something that's been out for months.
Helio phones have been on a 3G network since they were released. They have Garmin Mobile navigation capabilities as well as Google Maps GPS, Helio Video has many stations, including Fox Mobile, Fox Sports, ESPN, Discovery Channel, ABC Mobile and more (although I'm not sure if you can view live TV yet). You can use AIM, MSN messenger and Yahoo! messenger, and I believe MMS messaging. And there's a MySpace interface application, with a possible Facebook application coming. Their most expensive phone is $199 for new members (and they currently have a $100 back promo for it) and their unlimited everything plan is $99/month. And the talk time is listed as up to 5.1 hours. I don't have one but a friend of mine does and he never complains about lack of battery life. And I know he uses a lot of the features on the phone, and his AIM name is almost always online.
I'm not trying to promote the phone, I'd considered getting one but decided to wait and see what the new iPhone brought. The point is that even though few consumers know about these phones right now I doubt it has slipped past Apple's radar. So if they don't put out something that at least matches, if not exceeds, what Helio's done, I know what I'm getting in June.
As for the mobile TV streaming, like someone else said, having access to live television isn't going to deter from people buying shows on iTunes. The only way that would happen would be if they made the iPhone into a DVR device, and I definitely don't see that happening. But just think how popular mobile TV would be on a big game day if you're stuck somewhere without a television. Highlights are nice, but people want to see the action as it happens. Having that option would attract a lot of customers.