Well, it's hard to tell just by looking at that photo without seeing what's inside, but I'm gonna say poop for now. I think if Apple has designed a new iPhone, then they will be keeping it top secret and avoiding any leak until they have got the 3.0 update out the way.
Might be real, might be poop. iirc, the story that had those images went on with specs that listed a new CPU and GPU, and if it is from that story, then it's poop. Apple will release a revision of the current hardware, not an all new device with different internal hardware. That is, the next "gen" iPhone will be next "gen" in name only, not a real generational leap. Apple will save that for late next year...or mid 2011 at the earliest, when prices on the new generation of ARM CPUs and PowerVR SGX GPUs, OLED screens, RAM, etc. are much lower than they are now and they can roll in more money, and when the money they'll be rolling from falling manufacturing costs of the current hardware (which they'll milk for all it's worth) starts to dry up. Average life cycle for Apple products until real generational leaps is 4 or so years.
