from Gizmodo:

"Just now at WWDC, Steve Jobs confirmed the long-rumored 3G iPhone. People said they wanted 3G and 56% said it was too expensive. 'Today we're introducing the iPhone 3G.'

Key Features:
Charcoal Back
Solid Metal Buttons
Same 3.5" Display
Camera
Flush Headphone Jack
Dramatically Improved Audio

3G Advantage
Showing a EDGE vs 3G comparison loading a webpage, 3G took 21 seconds. EDGE...waiting...waiting...uhh...59 seconds! Same phone, same location. 2.8X faster - and they claim loads webpages faster than Nokia N95 (33 seconds) or Treo 750 (34 seconds).

Battery Life
5-6 hours of browing
24 hours of audio battery

And GPS!"