So Steve Jobs is giving his speech right now, and the blogs are going nuts. But good thing I have 30d to decide on the treo, b/c I might NEED the iPhone:

The iPhone

"This is a day I've been looking forward to for two and a half years," said Jobs. "Every once in a while a revolutionary product comes along that changes everything."

In 1984, said Jobs, Apple introduced the Macintosh, and changed the computer industry. In 2001, Apple introduced the iPod, and changed the entire music industry.

"Well, today, we're introducing three revolutionary products of this class," said Jobs. "The first one is a widescreen iPod with touch controls. The second is a revolutionary mobile phone. The third is a breakthrough Internet communications device."

"These are not three separate devices," said Jobs. "This is one device. And we are calling it iPhone. Today Apple is going to reinvent the phone."

Jobs explained that smartphones provide phone and e-mail and what he called "the baby Internet. They're not so smart and not so easy to use."

"We don't want to do these," he said. "We want to do a leapfrog product that's way smarter than these phones and much easier to use. So we're going to reinvent the phone."

The iPhone does not use a keyboard, nor does it use a stylus, as many smartphones do today. The device uses new technology called "Multitouch."

"We're going to use the best pointing device in our world," said Jobs. "We're born with 10 of them, our fingers."

Multitouch is far more accurate than any touch display, according to Jobs. It ignores unintended touches, supports multi-fingers gesture. "And boy, have we patented it," he added.

The iPhone runs Mac OS X, said Jobs. "We start with a solid foundation," he explained.

"Why would we run such a sophisticated operating system on a mobile device? It's got everything we need," he said. "It's got multitasking, networking, power management, awesome security and the right apps. It's got all the stuff we want. And it's built right in to iPhone. And has let us create desktop-class applications and networking.

iPhone also synchronizes through iTunes. It syncs media, contact information, calendars, photos, notes, bookmarks, e-mail accounts. "All that stuff can be moved over the iPhone completely automatically," said Jobs.

The iPhone features a 3.5-inch, 160 dot-per-inch color screen. There's a small "Home" button it. It's also remarkably thin -- 11.6 millimeters, thinner than any smartphone out there, according to Jobs.

On one side, the iPhone sports a ring/silent switch, volume up and down controls. On its silver back side is a 2 megapixel digital camera. The bottom features a speaker, microphone and iPod dock connector

And that's all they've said so far. Will have to check back later...

updated again: here's the official info from apple:
looks slick.
BUT- not available til June.
Cingular only (GPRS/EDGE- though Apple claims they will make 3G phones in the future)
$499/$599 (and that's WITH a 2yr contract) [!!!]
And it's only 4/8GB, so it can't totally replace my 80gb stolen ipod.

Nonetheless, the apple geek in me is drooling.