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My predictions for Today's Event...
To start off they will talk about sales numbers for iPad & iPhone along with numbers of apps in store and sales. They will then talk about iCloud and iOS5 once more with the presentation of the new iPhone(s)
They may hint at Apple TV 3 and iPad 3 which will be a Spring release and maybe about which iPod models are being taken down. (These may not happen). They may also talk about features in iOS 5 that have not been released yet. And Steve Jobs may make an appearance(?)
I believe that either way they are dropping shelf-space for the 3gs, marking the iPhone 4 it's replacement at lower price point. If they announce 2 phones instead of one they could do the 4s with 16/32gb of memory and the 5 with 32/64gb of memory. If they do this 2 phone announcement the 5 could be 3g/4g LTE but I believe this will happen because iOS5 is coded to work with 4g LTE, with the 4s being just 3g. The biggest they could make the screen would be 4" just .5 bigger than it is now.