In a keynote presentation today at WWDC, Steve Jobs officially unveiled the iPhone 4. It's powered by an A4 chip, has a glass front and back, and has stainless steel around the edges, which turns out to be part of the antenna system. The new iPhone uses what Jobs called a "Retina display," running at 960x640, or 326 ppi. The battery is also bigger, with a corresponding increase in battery life. The iPhone 4 supports 802.11n, has two mics for noise cancellation, and a three-axis gyroscope, which allows rotation and precision that accelerometers can't match. The iPhone 4's camera is using a 5-megapixel backside illuminated sensor, which Jobs said does better at low-light photography. It also records 720p video at 30 frames per second, with tap-to-focus. In addition to this, they've created an iMovie app, which allows users to easily edit videos on their phone. Several live blogs of the event, with pictures, are available. The device ships in the US on June 24. Apple's product page has been updated with specs and a video. Read on for more details.
Update: 06/07 18:34 GMT by S : Steve's "One More Thing" this time around: FaceTime, live video chat from one iPhone 4 to another. It is Wi-Fi only at the moment, but they're working with carriers to expand that in the future.

Jamie found a story that might make your jaw drop if you happen to have some need to put 12 video cards in your machine. Although if that isn't enough, you can always install two of these. I don't think I'm kidding.