Even with all of the confusion surrounding Apple's iPhone announcement this year, there are two things we know for certain. The device is going to include a faster processor (presumably the A5 found in the iPad 2), and a better camera.
While we don't know much about the camera just yet, we do have a pretty good idea of what the A5 is capable of. It wouldn't surprise me to see Apple tout the next iPhone as the fastest in the industry. And they're already working on making it faster....