Interestingly, the 16 GB iPhone rumor came true all of a sudden without Apple creating much hype this time around. Too bad for someone who bought an iPhone last week cos’ $100 is not bad for an extra 8GB flash memory. Well, since the iPhone is covered with a return policy (14 days – 10 % restocking fee : $40 ) I may well go for the upgrade once the bootloader and firmware version on 16 GB OTB iPhones. I am pretty sure it is 1.1.3 OTB but am waiting for an official word 🙂 Jump on this if there really is a reason to upgrade!!