My prediction:
Same screen as iPhone 4
Extremely similar body style
A5 like the iPad 2
Upgraded camera
Universal Qualcomm radio across all models, Verizon model may not have SIM slot though
Capacity bump to 64 GB
Black and white from launch
Exactly.
And it will be named the iPhone 4S.
(Or maybe, just maybe, they will surprise us with an all new freshly designed iPhone 5).
Whatever they do, I'll buy one for my wife.