What we've all been waiting forApple CEO Steve Jobs officially unveils the new iPhone 4, Apple's thinnest and most powerful smartphone yet.Bigger isn't always betterThe new iPhone is 24 percent thinner than its predecessor, the iPhone 3GS. It is made of stainless steel and glass and has integrated antennas, a front-facing camera, and a noise canceling microphone .Not so fragile glassThe scratch-resistant glass front of the iPhone is 30x harder than plastic, and Apple claims it is almost as strong as sapphire crystal.Superstar of the app worldCEO of Netflix Reed Hastings takes the stage to discuss the upcoming Netflix app for the iPhone. The movie rental app will allow users to stream movies, browse recommendations, and access their queue. Nexflix's iPad app is already one of the highest rated and most downloaded iPad apps in the App Store.Seeing is believingThe new iPhone will feature Apple's new Retina Display, which will include four times as many pixels in the same amount of space as the iPhone 3GS. That comes out to an impressive 326 pixels per inch and an 800:1 contrast ratio.On DisplayApple's Retina Display will allow for unprecedented clarity and precision for images and movies displayed on the iPhone 4.The iPhone's slice of the pieA chart showing that iPhones make up 28 percent of the smartphone market. The RIM BlackBerry slice of the pie is still slightly larger at 35 percent.And it all falls downJob played a custom Jenga-like game to demonstrate the iPhone's new Gyroscope sensor. Working with the accelerometer, compass, proximity sensor, and the ambient light sensor, the Gyroscope will provide extremely precise position information and is perfect for gaming.iMovie for iPhoneThe new iMovie app for the iPhone will cost $5. It will let you record movies, view a list of your current projects, record a movie directly into a timeline or choose from an existing clip, add photos and music to a project, and export your video as large as 720p HD.Inner beautyThe iPhone is packing an A4 chip, a Micro SIM tray, and a bigger battery that will allow for 5 to 7 hours of talking, 6 hours of 3G browsing, 10 hours of Wi-Fi usage, 10 hours of video, 40 hours of music, and 300 hours of standby time.PDFs viewable by iBooksThe improved iBook app will now features note taking, better bookmarking control, and the ability to view PDFs.As if he needs a new car...Jobs demonstrates a Nissan Leaf iAd by entering his own information to win a new car. iAds allow users to come back to their most recent app after clicking on an ad for more information.Finally, multitaskingThe iPhone OS has been re-named iOS 4 to reflect that it runs on non-iPhone devices (the iPod touch and the iPad). iOS 4 will allow for multitasking so certain apps can run in the background while you are using other apps. Folders can be created to group relevant apps together.Let the revolution beginThis year's One More Thing was a video call with Jonathan Ive over the iPhone 4's new FaceTime feature. For now FaceTime only allows users to video chat over a WiFi network.No shades of grey hereThe new iPhone 4 will be available in black or whiteBumper to bumperApple will sell covers that go around the edge of the iPhone 4 called Bumpers. They will be available in six different colors and cost $29 each. Getting a scolding\nSteve Jobs sternly asked audience members to turn off their wireless connections so that he could proceed with a demonstration showing Websites side-by-side on the iPhone 3Gs and the iPhone 4.\nGetting into the meat of itInside the iPhone is the A4 chip, which allows up to 32 GB of storage, quad-band HSDPA\/HSUPA, 7.2 Mbps down and 5.8 Mbps upEdit Stage LeftJobs ended his keynote by talking about how Apple products are the combination of technology with humanities and liberal arts.