The iPhone's defining feature was the whole package; it being an iPhone was the most prominent feature of the original iPhone. Last year, the iPhone's defining feature was 3G. In fact, if you had to pick one feature to differentiate the original iPhone from the second, it would be 3G.
I hope Apple continues this reasoning, and names it iPhone Video, since it's very likely it'll have a video-capable camera (which will be it's defining feature). Although I think they could also go back to simply "iPhone", which would be great.