Next-generation iPhones likely to focus on internal improvements.
Next Gen iPhone: 802.11n and Video Editing?
Driver support for new Broadcom Wi-Fi chips suggest that the next iPhone will add support for 802.11n. The iPhone and iPod touch currently only support the slower 802.11b/g networks. Supporting only 802.11n devices on a wireless network can significantly improve performance. With existing iPhone hardware, this mixed environment was unavoidable.
Meanwhile, an inadvertent Publish Video screenshot from the first iPhone 3.0 beta suggests that Apple is incorporating video recording and uploads directly from your iPhone. Some new user interface elements in the 3.0 beta suggest that you will also be able to edit these videos before uploading. If Apple does indeed provide video recording and publishing, it certainly makes sense to offer some limited editing/clipping ability.
The iPhone 3.0 firmware will not be released to the public until this Summer, and Apple is rumored to be releasing their next generation iPhone in that timeframe.