I have a theory. Let me know if this sounds plausible. If you look at the 3GS, it's really little more than a spec bump. You do have a few more features, but most of the new features have to do with the 3.0 software, not the phone itself. I think the reason we didn't get more of a redesign of the iphone, is that Apple knew the 3G owners would have issues upgrading to the 3Gs because of their contracts with AT&T (or whoever), which of course is going to hurt sales. I'm beginning to suspect Apple is holding off on the "real" next gen iPhone for when the 3G's contracts expire next year.