MacWorld's account of Steve Job's presentation at Apple's World-Wide Developer's Conference:
11:37 PT - DM: They're proud that they're doing this with better battery life. 300 hours of standby time, 2G talk time is up to 10 hours (from 8 hours); on 3G talk time, other phones have 3-3.5 hours. The iPhone has 5 hours of 3G talk time. "That's actually a very large amount of 3G talk time. We're very proud of this." Browsing is 5-6 hours of high-speed browsing. 7 hours of video and 24 hours of audio. (Small text; "All figures are 'up to').
11:38 PT - DM: And it looks like GPS is in there too. Shazam. Location services is going to be a big deal on the iphone with the 2.0 software. Right now they get data from Cell Towers and Wi-Fi, and now they get GPS (it shows up as a little blue dot). And using the GPS data they can actually do tracking. They drove down Lombard St. And they can actually track as they move using GPS. You That is pretty damn crazy. "You get the idea."