The next hardware update for the iPhone is likely to be in June / July along with the final release of the iPhone 3.0 OS to public. This will bring all new jailbreaking and appstore apps to picture. But what will really change the game would be the new iPhone hardware capabilities.
according to reports that AT&T has upgrade plans and the new iPhones would support faster 3G. Providing improved internet connectivity. But with rumors of Apple switching to Verizon, this puts us in a little confusion if AT&Ts network is really what Apple would base their hardware upgrade on AT&T.
However its logical for apple to up the capability from 3.6 [Mbit/s] to to 7.2 [Mbit/s] in general.