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Here is a summary of what was announced for the new Speedier,  iPhone 3G S:

Fastest iPhone Ever! The new device should be faster all around.  Safari will be faster, the graphics processor will be faster, and the device should have more internal memory.  It was rumored that they were doubling the internal memory that is available to the applications, but since Apple doesn’t usually release the official technical specs, we will have to wait until the device is officially released and torn down to get the details

Video Support – We will now have video recording, VGA up to 30 fps with audio.  What is really going to be cool is to have the ability to also edit the video on the device before we share the video.  We will be able to share our videos with MobileMe, YouTube, MMS, or send it to someone through email.

Improved Camera – The iPhone will now come with a 3MP camera with auto focus.  The new autofocus will be a great improvement, but you can also control the focus by tapping on the glass to tell the device what object to focus on.  The standard sharing options that are available for video are also available for the camera.

Voice Control – A feature thats been missing for a while that is considered standard on most phones is voice control.  The iPhone will finally get this feature, but I think we found out why it took so long.  Its not your standard voice control where you can just dial a contact.  While the new iPhone will allow you to say the name of the contact you would like to call, the voice command can also be used to manage your music.  You can ask you phone what song is playing, but you can take it further and even tell the phone what album or artist to play.  To top it all off, the voice control supports over 20 languages!

Compass Support - now that the iPhone has this feature, we are finally able to get turn by turn applications onto the iPhone.  TomTom officially announced that they will be releasing an iPhone verison of their application and they will certainly take advantage of the new compass feature.

Other goodies such as Copy and Paste, MMS support, Internet tethering, Voice Memo, Search, and landscape mode everywhere was also announced.  While the items listed above in bold are hardware changes that will only be available in the iPhone 3G S, a lot of the other features will be made available through a software updated on June 17th with the new hardware coming June 19th.

For full details of everything and anything about the iphone, be sure to check out http://www.apple.com/iphone/