Ugh, I really hope this isnt true. I know it's all subjective, but I think the current iteration is the coolest looking one. I think Apple was pretty proud of it, I have a feeling they will stick to that design and just fix the antenna problems instead of going with another complete overhaul.

Highly doubt it, looking at the photos it appears to be too similar to the original iPhone, and if you recall there were antenna issues related with the all aluminum casing. Apple isn't a backward thinking company.

Sorry guys. This is not factual. If this is even a real prototype, which I doubt, Apple is notorious for not having one but many prototype designs. Furthermore, Apple and it's designers have nor would go backwards in their design evolution. There is no need to. Still furthermore, this would be the earliest design leak by Apple in 10 years, other than the iPhone 4. It doesn't make any sense. What does make sense is that a bunch of guys with nothing better to do on Saturday night would fantasize about what the next gen would look like then illustrate it then post it on the internets.

tl:dr... Fake.

It is pure speculations. Anyone can make semi-educated guess of what Apple would do with the next iPhone.

Antenna redesign? If Apple wanted to make a hybrid GSM+CDMA iPhone, then the antenna has to be redesigned.

Aluminum backing? Instead of the glass back-plate in iPhone 4, Apple could replace it with Aluminum one. There's a replacement Aluminum back-plate for iPhone 4, sold by third party.

That looks like the old iPodTouch before the most recent generation (and I wouldn't be surprised if it's an old prototype from then)