iPhone...eh, not that interested at this point in time.
I really think tomorrow's keynote will be about 3 things. Summary of the Intel transition and the roadmap ahead (penryn, yay!), iTV (with the announcement of the "official" product name and maybe even an available product), and Leopard's official release date with a FULL preview!
Since there is always "one more thing", I guess it could be the iPhone. But really the market is saturated with smart phones and PDAs, and I think Apple has been wise thus far to stay out of that game. I would really like to see the Mini get a makeover as the "one more thing" and it makes the most sense to me. The release of iTV would be a perfect opportunity to boost the Mini and provide a distinguishable gap between the two. I could even see them marketing them in conjunction. Mini in the office, iTVs through the house, room for all your media without a huge box under the desk, the tiny footprint of the new home networking strategy.
Of course then you'd need an update to Airport.
Works for me