I think they could potentially come out with a Pro model that does have the front facing camera, a back camera with better pixels/resolution, light indicators and a flash card slot.
Why waste the money of something that might sell 2 million units worldwide in a year (MIGHT) when they can slowly add/improve stuff to the existing iPhone?
I don't see a "Pro" model coming out anytime soon. For starters about the extra storage, Apple will add that as soon as it can fit (which has been pointed out in a few threads I read today). They physically can't fit any more into the present casing.
As far as the other stuff, that will hardly drive sales. I know NOBODY that says "ooh, the iPhone is great. But that 2MP camera is a deal-breaker." Most digital cameras don't have one that good. Plus, how many of you use pictures that a 2MP won't work with? If you're taking stuff that you need a better camera than that, you really just need a camera.
I get the desire for a front-facing camera, but I don't see it as something that's worth the extra money. Every other issue ever mentioned is more important to me and I'm guessing a lot of people. I just don't see voice calls being that big, or if they are, you use a laptop.
Light indicators could be easily done, but you put a case on the phone (like this Incase Slider) and that's all wasted. Perhaps alarms could be added like in iCal/Calendar (although the iPhone Calendar could use some more options). If you've ever used the alarm clock with the "alarm" tone, you know that there's a way notices can be done without lights.
Flash card, I'm there with you. I think Sprint phones can use SIM/flash cards (combo card) in their phones. I'd rather have both slots available (use Micro SD or something), but just something. As far as the person that mentioned the metal case, i don't think that'll happen because they changed it due to signal problems (which I have never had and don't get considering my GPS is made of a lot of lightweight metal).
