Apple have released a 20 minute guided tour of the upcoming iPhone. This is the best look at the iPhone you are going to get without actually holding one in your hand, so check out the online tours or use the direct link to 175mb video. (Quicktime required)

Curiously one of the selling points featured on the site is "Watch TV ads". I don't know how watching TV ads can be called a feature. I think they meant to say "Watch Video".

Anyway, the iPhone appears to have the goods. But I am still not sold on the form factor.