Interesting news on the iPhone front. Engadget is reporting that some trusted sources of theirs are already field testing the new Generation 3G iPhone.

The juicest features include:

- Faster 3G (3rd Generation) speed…….vs. the glacial Edge Network

- Proper GPS

- Glossy black back, vs. today’s satin finish

- Slightly thicker form factor, presumably to accommodate the 3G chips and possibly a larger battery.

If this report is true, then one could anticipate launch of the model this coming Summer.

Are you excited yet?