This video describes the new features of the iPhone 4. I want one!

Video calling
High resolution display
HD video recording
Backlit camera sensor
LED Flash
Gyroscope

This weekend I was fascinated with the coverage of the next iPhone. Many pictures and videos were produced of a product that many are feeling is a misplaced prototype of the iPhone that will be launched in June. What’s amazing is not so much the iPhone itself, but the story about the coverage, the “exclusives” and the inevitable backlash from Apple that this all happened. First it was the Engadget exclusive pictures, and a confirmation that the iPhone was in a previous leak picture of the iPad. Then Gizmodo launched a full review of the product – they had it in their hands (albeit disabled from Apple). Finally tonight Gizmodo spilled the beans on how they came to get the device (leaving out the crucial detail if they paid for the phone or not).

It’s a soap opera.

UPDATE: Apple has asked for it back – meaning they claim ownership of the device – meaning it’s real.

UPDATE 2: David Letterman posted this to his “Excuses of the Guy Who Lost His iPhone Prototype.”

• 10. “Couldn’t call Apple for help because I lost my iPhone.”
• 9. “I’m more of a Kindle guy.”
• 8. “You mean besides being drunk out of my mind?”
• 7. “Distraught Kate Gosselin kicked off Dancing with the Stars”
• 6. “Thought there was an app that would whisk it back to my house.”
• 5. “It must have fallen out of my iPants.”
• 4. “Volcanic Ash! Run!”
• 3. “Let’s Just Blame Goldman Sachs.”
• 2. “At least I didn’t lose my finger like that iPad guy.”
• 1. “It didn’t work, anyway—it uses AT&T.”