I could see, but that doesn't mean i think, that apple may upgrade the storage size and put 3g into the current form factor of the iphone at macworld, and then come out w/ a 2nd generation iphone by the end of june 2008.
I highly doubt it, maybe in 1 or 1.5 years.
They're looking into 3G chips that are less battery draining.
But for 16gig's on a phone I think its too much.
To me 8gig is plenty.