Today in the world of 3G

The 3G iPhone supports 42 Mbps. - Thanks Telstra executive

An executive from Apple's Australian network, Telstra, told ChannelNews that the 3G iPhone 2.0 will be capable of 42 megabyte per second data transferring.

"We believe that this will be a major drive for many people to invest in a new smart phone it will also create a big buzz as many vendors plan to launch new smart phones at the same time", said the Telstra executive.

[original source - Channel News]

New smart phones at the same time? Sure - if they're looking to get dominated by the iPhone.

So, is 42 Mbps really that fast?

Well - compare it to EDGE (1.31 Mbps)

In other words - 3G is 35 times faster than EDGE...according to this Telstra executive.

But keep 2 things in mind: 1. Who's to trust this random Australian executive? and 2. Even if he's telling the truth - this speed is theoretical. But still awesome.

Updated from Gizmodo: Telstra Exec's 42Mbps iPhone Claims Are All But Impossible (Well Said)

No Price for 3G iPhone Established Yet - Thanks AT&T CFO Rick Lindren

AT&T CFO Rick Lindren told the Reuters Global Technology, Media and Telecoms Summit in New York that neither AT&T nor Apple have settled on a price for the iPhone 2.0.

Here's how the conversation went:

AT&T: So, how much are you planning to charge for the new iPhone?

Apple: $600

AT&T: Make it less.

Apple: Don't give me that lip.

AT&T: Please make it less, sir.

Apple: Give us 50% of your iPhone-plan profits.

AT&T: But...but...then we'll be in the negatives.

Apple: You must not have realized that that wasn't a question. You will give us 50% of your profits - or we're going to T-Mobile.

AT&T: Yes, sir. Whatever you say. So can we drop the price?

Apple: Watch that tone.

...and so it went.