As we speak, Tim Cook is announcing the iPhone 5, and we are following it all at gizmodo.com, where they are live blogging. 

It's thinner and lighter, with a 4 inch display which makes it a bit longer but also makes it lighter.

There is 44% more color saturation that makes movies more beautiful to watch, and apparently there are updates to Garageband, iPhoto and iMovie as well as a HUGE reduction of glare on the screen.

There is ULTRA. FAST. WIRELESS as now you will have 4G LTE wherever you go. The phone now can switch antennae automatically and will switch you to whatever has the best connection at all times.

So there it is folks, another newer, thinner iPhone! Let's do it. Go forth and purchase.

UPDATE: Apple has now claimed an 8 hour battery life, 10 hours of WiFi browsing, and 8 hours of LTE browsing.

Camera is said to be amazing, "Dynamic low light mode, precision lens alignment, sapphire crystal." Sounds classy as hell.... 40% faster shutter snap, and THIS is cool- there is a panorama mode so you can take all around photos of the area you're in. That's going to be awesome.

And yay! Three mics in the phone, not one. Front, bottom, Back. And the ear piece is noise cancelling. 

KEEP CHECKING FOR UPDATES --------------------------------> HERE