The next version will be later this year, probably when the 4G iPhone is announced at WWDC in June. It will almost certainly be 128Gb, as Toshiba announced a week or so back the introduction of their next range of NAND flash modules for production this year. The iPhone takes one, and the Touch takes two, and each module will be 64Gb. The Touch may have a camera, and if so it'll be 5Mp, as Apple have allegedly ordered millions of 5Mp camera units. RAM and processor speed will probably double up too. I'm looking forward to a 64Gb iPhone, 'cos my contract comes up for renewal in June…