Apple has released details of the newest iPhone. This is obviously big news for you iPhone Phanatics out there (and yes, my hand is raised high, too). I’ll get into more details an an upcoming blog entry, but wanted to give you a quickie overview.

First, the new version is called the 3GS (the “S” standing for “Speed”). It seems to have most of the stuff that iPhone users of previous models have missed. Let’s start with video. The iPhone can now shoot video (and about time, too!) Also included is video-editing software and the ability to easily upload video to YouTube.

The camera has been upgraded to 3 megapixels, which will make for much sharper pictures. You can also focus on different parts of the image through a touch method. In all, the video and photo upgrades alone make this a worthy upgrade.

But there’s a lot more than that. Capacity has been increased, from a top end of 16GB to 32GB. I personally haven’t come close to maxing out my storage yet, but for those of you with hundreds of applications and thousands of songs, this is great news.

The new iPhone is also much faster; Apple says it’s at least double the speed of the current 3G. That means faster downloads of applications and e-mail, and quicker loading of Web pages. Woo-hoo!

The new 3GS will be sold for $199 (16GB) and $299 (32GB). That means no price increase for a better phone. Well done, Apple. In addition, the current 8GB 3G is now being offered for $99. Wow: an iPhone for a hundred bucks? Awesome.

More will be coming on this in the days and weeks ahead, but I wanted to whet your appetite.