According to a forum poster on a Chinese gadget site, the new iPhone is set to include some upgrades we'd expect, but also some we definitely wouldn't, most notably an FM radio.
This purported screenshot, showing "model MB717LL 9," definitely shows 32GB of storage, which seems pretty reasonable. The poster adds that the new iPhone's processor will get bumped to 600MHz (from 400MHz) and will double the current amount of RAM to 256MB. Aside from that, the rumours point to a camera upgrade to 3.2MP with autofocus, and, interestingly, a digital compass and an FM radio, but with no major design changes: That means the same casing, screen, and battery.
Some of this stuff is probably true, like the proc, memory, storage, and camera bumps, and we've heard that rumour about the compass before, as well as a possible FM transmitter. But honestly, we wouldn't hold out any hope for an FM radio, given Apple's track record. [MacRumors]