My first thought looking at this; weird, awkward.
This is a photo someone cooked up from the leaks about the new "iPhone 5", which Apple might release soon.
But, this photo's really weird.
The wider home button looks weird, I don't think Steve Jobs would allow it either.
The gradually thinning backside doesn't look nice either, and if you hold this the center of gravity will be on the upper side of the iPhone, I wouldn't want that.
The larger display's nice though.
I think the iPhone 5 won't be called that, , probably iPhone 4s, like the iPhone 3G to 3Gs.
Of course the A5 chip will be on, so it'll be a lot faster. (and a lot harder to jailbreak, if I say so; Apple'll probably tighten its security on the device on iOS 5)
The design will probably be the same to 4, but with the antennagate problem fixed.
If you're looking for a head-turner you might want to wait for iPhone 6. Or whatever that's gonna be called.