The release date for the new iPhone has been set for June 29th and the device will carry a hefty price tag of between $500 and $600. If you believe the hype, the new iPhone will be the best MP3 player / phone / video player / PDA ever made. In other words, the Swiss Army Knife of Techno Gadgets.

The new iPhone will include features that allow you to access the Internet from any location and send email; a color touch screen for playing music and video; a built in camera for taking photos and capturing video; and full wi-fi capabilities. Oh, and I almost forgot, it works as a cell phone too.

If you are a geek with extra money to burn and a passion for always having the next “new” thing, then the new iPhone may just be right for you. I, on the other hand, will rather wait a few months for the price to drop and all of the bugs to be worked out in version 2.0.