Without trying to start a fight here, most people are idiots. They really only understand basic numbers. so if someone says that it's less pixels (even if it is only on one dimension), they'll freak out and complain.
The resolution won't change - at all. The size might change, personally - I'm hoping it's scaled up to a 4 inch screen.
Moving to the retina display was a very carefully weighed move, it was the only way to increase the screen resolution without causing massive developer outlash. As a developer working both with Android and iOS I can tell you flat out that the number one advantage to working with iOS is the incredibly predictable nature of the platform in comparison to working with Android.
If I want to support retina for a product - it's as simple as designing my game/application around that resolution and then running any 2D assets through a quick bulk scale operation and bam, I develop once and support every generation of iPhone and iPod touch. If I want to be super lazy and not even bother with that, it's still no big deal - because the resolution is exactly four times as great as older devices - applications designed for the older devices look absolutely no worse on the newer screens, just no better.
They are not going to move away from that just yet - a 4 inch 960x640 would still look amazing and would require zero development effort to support. It would also put off the fragmentation of the platform at least one more generation - which has a huge value.
The reality is they are under no pressure to change the aspect ratio, or even the resolution - yet they are under significant developer pressure to avoid just that.
Obviously nobody knows until Tuesday, but if you honestly think they are going to change the aspect ratio of platform this generation you don't understand what got them here in the first place (massive developer support of the platform). If and when they change the aspect ratio of the platform, we are going to know about it far in advance. The reality is that they run a fully-backwards-compatible platform at the moment - if they sprung a new AR on developers with only a week or two to update all their products the new phone would launch with many (read most) third party apps and games flat out broken. Not a little off looking, but legitimately non functional. They aren't ever going to do that, ever. When they go to a new AR expect another major feature and a damn good excuse to come with it (since they'll have to tip the AR hat so far in advance to avoid customer frustration when all their favorite apps are broken on launch day).
I also highly doubt they are going to move to a screen larger than 4 inches, as it quickly becomes too large for many peoples taste. I wouldn't be surprised to see another 3.5, I wouldn't be surprised to see a 3.5-4.0 with the same resolution - I would be shocked to see just about anything else.