“Need for Speed – Undercover” is one of the best racing games for the iPhone so far. If the announcement at Apple’s WWDC on Monday is to be believed, the game should load even faster on the iPhone 3G S. That is because the “S” is for Speed, and here we thought the iPhone 3G was supposed to be fast. No, the 3G S is faster still!

Actually, I’m quite excited about both the new iPhone (”iPhone 3G S”) and the iPhone 3.0 OS update.

Although physically there are no major changes, the third version of the iPhone adds some neat features. Improved battery life is one of them. Another is an upgraded 3-megapixel camera with built-in support for video recording. Then there is voice control, and a compass.

The iPhone 3.0 OS update (features available to the older iPhone 3G, as well as the iPhone 3G S) adds Cut. Copy and Paste (finally, you don’t have to Jailbreak to get this feature), a Landscape mode keyboard, MMS support, a search function and Voice Memos.

Also, surprisingly, the iPhone will now support tethering (using the iPhone as a wireless modem for a notebook). AT&T will not be offering tethering until their networks are updated. If you want tethering in the US you still have to Jailbreak your iPhone to get it.

As expected, the new iPhone comes in a 32GB capacity. It also has a 16GB version. One surprise is that the 8GB iPhone 3G is still going to be sold, but it is now the $99 iPhone.