This isn't it but it's the most likely contender...

iPhone 5 rumours are everywhere, with the launch (apparently) imminent – my Tech contributor Kieran has put together a roundup of everything you need to know about Apple’s next superphone. We dig through the crap so you don’t have to! Aren’t we nice…

Neither's this but how cool would that be?!

When is it out?
Rumours circulating seem to suggest the iPhone 5 is imminent and will arrive next month. Further to this BGR are reporting to have a leaked document from Best Buy further suggesting an early October release.
Source

All signs point to it being released in Europe on October 15th.

Size.
Several leaked iPhone 5 cases indicate that the new iPhone will be thinner than its predecessor but wider, possibly to accommodate a rumoured larger 4” screen. MacRumours has a full roundup of the leaked cases.
Source

The Look.

Other than having better graphics, camera etc. the iPhone 5 probably won’t look that different to the iPhone 4.

Most rumours state that it’ll be a bit thinner with a wider screen.

Hardware.
Hardware: Bloomberg reported that the latest iteration of the iPhone will feature an 8-megapixel camera and the A5 processor, currently used in the iPad 2, which would see an increase in processing power.
Source

Price
While it is expected that the new iPhone will have a similar price to the iPhone 4 upon release, Bloomberg are also reporting that Apple will be releasing a cut price iPhone alongside the iPhone 5.

 

Will you be lining up to purchase once it’s out? I can safely say that yes, Apple have slowly made me their bitch and I’ll be there on launch day.