Wired is reporting that a source closely connected to the Apple hardware team is giving out details about the suspected upcoming revision of the iPhone. Among the most important details are a launch date of July 17 (a Friday) and that it will come in two flavors of 16GB at $199.99 and 32GB at $299.99

Full potential leaked spec list below:
* 32GB and 16GB storage (up from the current 16GB and 8GB models)
* $199 and $299 price points to be maintained
* 3.2-megapixel camera (up from the current 2-megapixel camera)
* Video-recording and editing capabilities
* Ability to send a picture & video via MMS
* Discontinuation of the metal band surrounding the edge of the device
* OLED screen
* 1.5 times the battery life of the current models
* Double the RAM and processing power
* Built-in FM transmitter
* Apple logo on back will glow
* Rubber-tread backing
* Sleeker design
* Built-in compass
* The camera, GPS, compass and Google map combined will identify photo and inform about photo locations
* Turn-by-turn directions