New iPhone Imminent

At this very moment, Steve Jobs is on stage in San Francisco where he is expected to unveil the next version of the iPhone. High-speed 3G data connectivity, on-board GPS and a fully developed application store are all likely to be in the cards.

As this conference is attended mostly by Apple software developers, Jobs is currently running through a laundry list of new applications that will be possible by the iPhone's official SDK—we've seen an eBay auction tracker, a location-aware social network, and a crowd-sourcing-friendly news app from the AP that allows you to read local news according to your current location as well as submit photos and reports directly for a little citizen reporting.

Nearly all of the apps we've seen so far have a location-aware aspect, which goes a long way to verify the GPS features.

Stay tuned here for more reports live from WWDC.