I believe well see some smaller, incremental improvements with the CPU/GPU, and both cameras. The major hardware updates will be NFC, LTE and the new display (plus the change in the physical design). Wrap all that up with IOS6 (with the new maps, Passbook, all the tweaks to Siri) and thats what well see in October.
I suspect Apple will be making a huge effort to establish partnerships so they can hit the ground running with PB+NCF. A few major department stores, airlines, some boutique type stores like Starbucks, Apple stores of course. They love the angle of ...and you can do this _now_ vs. heres a neat new feature, but you cant really use it.