The Apple iPhone 4G news over the last week or so has put us right on the edge of our seats, with many readers searching whatever they can about this new device. Since Gizmodo got their hands on the prototype it has been manic on the web, here is what we know so far.

The main design has been changed dramatically with the current rounded edges gone in favour for the squared off look, it now features a flat metal band, which looks stunning if you ask us.

The buttons on the side (Volume controls) are now metal and the mute switch, lock button, and volume buttons are all silver in colour and made of metal as well. The display screen is slightly smaller like we mentioned in previous articles and it seems to have higher resolution, even though Gizmodo could not count the pixels.

The new iPhone has a front-facing camera, so hopefully iChat coming soon and the camera on the back has a bigger lens, wonder if we will get to see 8-megapixels on the new device, it has been said to have camera flash as well and hoping it is an LED flash.

It is still a mystery what the internal XXGB storage will be, but hopefully it will go up to at least 64GB. The battery is a lot larger and Gizmodo has said about 16-percent larger 5.25 WHr instead of the 3GS’s 4.51 WHr.

Instead of the old SIM card it will feature the new MicroSIM slot, this means you could use in the iPad as well. Now when you look at the release date you must set your mind back to when the Apple iPhone 3GS released, this model released two days after iPhone OS 3.0 update was released, now seeing as iPhone OS 4.0 is being released summer 2010 does this mean the new iPhone will release a couple of days after.

Is there any point in buying the iPhone 3GS? Well Engadget seems to think there is no reason to buy the new iPhone 4G, ok the current 3GS model is very good indeed and will be so much better once it has OS 4.0 installed but as they say we say also WAIT.

We and many other news sites has called the next generation Apple smartphone the iPhone 4G, personally we believe this will not be the name and that iPhone HD will be more fitting. What do you think the next iPhone should be called?