This is why I don't think there will be a iphone 5 today
First of all, I could be very wrong (obviously) but I don't think there's going to be a newly designed iphone 5 announced today, or if there is an iphone 5 it will be what we've been calling the iphone 4s.
Here's my reasoning:
1. All the parts leaks we've seen have been for a device that looks the same/similar to the iphone 4
2. All the software leaks (itunes) we've seen has been for the iphone 4s
3. Most importantly, and something I don't see many speaking about, from a price perspective I don't see how Apple could charge $99 for an iphone 4s with an updated processor, more memory, and better camera. I do see them dropping the price of the iphone 4 to $99 and introducing the new model iphone 4 at $199 and $299, which would then mean if they did make and introduce an iphone 5 it would have to cost more than that starting at $399 and going higher for more memory, which makes little business sense. The top of the market seems to support phones less than $300 and even with the Apple tax I don't see them selling an iphone 5 for $399 no matter how nice it is.
Just my reasoning, we'll see later if I'm correct.