Well ever since the 16gb iPod touch was released last September, you knew Apple had it in the works to release a 16gb iPhone. Today just so happens to be that day. They also have increased the capacitity of the iPod touch to double it’s previous maximum capacitity, bringing it to 32 gigs total.
The price seems to of stayed the same for all of the previous models, with a $100 premium for these new models. They are available today, and show only a 1-2 day processing time for shipping from the Apple Store online.
Look for me to be selling my iPhone online soon, I really could use the additional space on my iPhone.