New Iphone to Launch Soon??

There is a rumor running around that the good old Iphone 3g would be replaced by a brand spankin new Iphone come June 17.
According To 9to5Mac the new Iphone would sport these features:
# 32GB and 16GB to replace current capacities
# $199 and $299 price-points to be maintained
# 3.2 Megapixel camera
# Video recording & editing capabilities
# Ability to send a picture & video via MMS
# Discontinuation of the metal band surrounding the edge of the device
# OLED screen
# 1.5X The battery life
# Double the RAM and processing power
# Built-in FM transmitter
# Apple logo on the back to light up
# Rubber-tread backing
# Sleeker design
# Built-in compass
# Revolutionary combination of the camera, GPS, compass, and Google maps to identify photo and inform about photo locations.
# Turn by turn directions

I am not sure where this is coming from but a new Iphone would irk some new Iphone owners.
via 9to5Mac