I think the above-quoted post captures the significance of the Gizmodo story. People have been using "iPhone" for Apple's cell phone as a convenience, but there's not solid evidence that it'll actually be called that, and I was under the impression that someone else holds the rights to the name. So maybe Lam knows about a product that's actually called "iPhone" and will be announced on Monday. Gizmodo holds their own and is not going to suffer huge drops in traffic when one of their editors plays a little joke on fanboys.
P.S. That last time he made the hint about the TiVo update, I didn't expect it to be about Apple at all. He said before the Apple event, but I didn't think he was implying a connection. And TiVo news, especially HD-related, is big news to a lot of Giz's readers..