iPhone 4S will be the next phone.
The 5 will NOT come out till next year, no way.
The line up for September shall be iPhone 4S 16GB/32GB Black/White OR iPhone 4 8GB/Black.
The S will have the separate flash location, faster Apple A4 and higher clocked GPU - I do not think we will see the A5 until the iPhone 5 next year's June/July.
Are you kidding me? What is this "4S" i'm hearing? The next iPhone will be the 5th generation iPhone and so therefore until it's actually released iPhone 5 sounds most ideal. Apple is a company which works with it's product's generations.
iPhone = iPhone 1
iPhone 3G = iPhone 2
iPhone 3GS = iPhone 3
iPhone 4 = iPhone 4
Now your logic says:
iPhone 4S = iPhone 5?
iPhone 5 = iPhone 6?
iPhone 5S = iPhone 7?
iPhone 6 = iPhone 8?
Can you see how messed up that is? There's no pattern, the 3G and 3GS were exceptions.
It's not Apple-like for them to skip numbers that correspond to the product generation.
We'll definitely be seeing the A5 on this year's iPhone 5, it's pretty much guaranteed since the iPad 2 already has it.